Proxy refers to someone who is authorized to serve in one's place at a meeting, especially with the right to right to vote on behalf of another. It may be written authority given to someone to act or vote in someone's place. A proxy is often used as a method for stockholders to cast votes at a meeting of shareholders, and by board members and convention delegates.
Proxy voting refers to the procedure of delegating the right to vote by one person to another. In proxy voting in the absence of a person his/her vote will be secured by some other person. A person so designated to cast the vote of another is called a "proxy" and the person who delegates the power is called a principal. A voter must have a trust in the proxy. Any person including the official of the chosen party can be appointed as the proxy.
A Virginia Irrevocable Proxy is a legal document used in the state of Virginia that grants another person the authority to act on behalf of the individual creating the proxy, even if the creator becomes incapacitated or unable to make decisions. This type of proxy is typically used in situations where an individual wants to ensure that their wishes are upheld in various matters, such as healthcare decisions, financial affairs, or legal matters. Keywords: Virginia, Irrevocable Proxy, legal document, authority, act on behalf, incapacitated, decisions, healthcare, financial affairs, legal matters. There are different types of Virginia Irrevocable Proxies that cater to specific needs: 1. Healthcare Proxy: This type of irrevocable proxy allows the attorney-in-fact (the person granted authority) to make healthcare decisions on behalf of the creator if they are unable to do so themselves. This often includes decisions regarding medical treatments, surgeries, or end-of-life care. 2. Financial Power of Attorney: A financial irrevocable proxy grants authority to the attorney-in-fact to manage the creator's financial affairs. This may involve handling investments, paying bills, managing bank accounts, or making real estate transactions. 3. General Irrevocable Proxy: This proxy grants broad authority to the attorney-in-fact to act on behalf of the creator in various matters, including legal, financial, and healthcare decisions. It is a comprehensive document that covers multiple aspects of the creator's life. 4. Limited Irrevocable Proxy: This type of irrevocable proxy grants limited authority to the attorney-in-fact, restricting their decision-making power to specific areas or for a defined period. It provides flexibility for the creator to designate certain matters that the attorney-in-fact can handle. 5. Contingent Irrevocable Proxy: A contingent proxy comes into effect only if the creator becomes incapacitated or is unable to make decisions on their own. It ensures that a trusted individual can step in and act on their behalf, following their previously expressed wishes. It is crucial to consult with an attorney while creating and executing a Virginia Irrevocable Proxy to ensure compliance with state laws and to address specific needs. This legal document provides peace of mind by appointing someone reliable to handle important matters when the creator is unable to do so themselves. Keywords: attorney-in-fact, healthcare decisions, medical treatments, end-of-life care, financial affairs, investments, bills, bank accounts, real estate transactions, legal decisions, comprehensive document, limited authority, defined period, incapacitated, trusted individual, expressed wishes, attorney, compliance, peace of mind.
