You must have heard a lot about the power of attorney, but have you thought about having one? Well, it depends on whether you need one or not. A power of attorney in UAE format is a powerful document that can be manipulated if loopholes remain in it. However, it has several misconceptions around it as well. It is best to pay attention to these and make sure not to indulge in any misconception. You can make sure that your POA is neither manipulated nor misused. To make that happen, you need to stick to the basics. Get in touch with a proficient and experienced attorney. Discuss all scenarios before making the POA. The attorney will likely explain different situations and their outcomes. In the meantime, keep the following myths in view and know their solutions as well:
POA remains relevant even after death
It is important to know each myth before having a POA. There is a popular myth where it is assumed that the death of principle puts no effect on the validity of POA. This is incorrect and should be disregarded as a myth only. The truth is that the POA becomes invalidated when the principal dies. In this scenario, the whole process will be renewed and the attorney will be consulted.
A standard POA would suffice for all
That’s another misconception that you should stay aware of. POA comes in many different types, and you will have to get in touch with the attorney before having one. There is no standard, or universal POA anywhere. Your attorney will explain to why this is the case. You can choose to have either a limited special power of attorney or a general one. In both cases, the POAs come in different types and the notion that one POA will suffice all is just propaganda.
POAs can be made for indefinite periods
It is a misconception that a POA can be made for an unlimited period of time. All POAs are subject to deadlines after which they expire. The principal will then have to look for a fresh POA. After the deadline, the current POA will be considered invalid and will have no authority.
Find out here more about POA and the myths surrounding it. It is up to you to acquire as much information about the subject as you can. It will help you focus on the need to get one instead of chasing false propaganda.