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There are several possible disadvantages of power of attorney. First, you must think ahead and create one before you become incapacitated or need someone to act for you. Second, the POA could be challenged if there are questions about whether the grant of authority was made while you were of sound mind.
A power of attorney is a legal document that allows someone else to act on your behalf. Powers of attorney (POA) can be helpful to older people and others who want to choose a trusted person to act on their behalf when they cannot.
A power of attorney (PoA) is a document that gives another person the legal authority to act on your behalf as per the terms mentioned in the document. In the case of a demat account, the PoA gives the online broker the legal authority to take certain decisions on your account.
Other important tasks a power of attorney in Ohio can authorize someone to carry out are banking transactions, real estate decisions, dealing with government or retirement benefits, and healthcare billing.
3 Proof of Address (POA): - Following is the list of documents admissible as Proof of Address: (Documents having an expiry date should be valid on the date of submission.)
Power of Attorney (POA)
It must be dated, signed by the principal at the end of the document, either signed by two witnesses or notarized, and include a specified statement regarding who can be an attorney in fact.