None of us anticipates losing mental capacity. However, with life expectancy in the UAE now around 77 years of age, cases of diseases such as dementia are expected to rise by 2030.
Loss of capacity can also affect young people who have suffered an accident or illness, which results in serious brain damage. Therefore, whatever your age, you should consider putting a Power of Attorney (POA) in place.
POAs also provide peace of mind to ex-pats living in the UAE who are not always present in the region. An agent can be appointed to manage your legal affairs whilst you are overseas.
Our team of experienced private client solicitors will take the time to listen to your requirements for a POA and advise you on the qualities an effective agent needs to possess. We understand the trepidation many feel about handing over control of their finances and property to someone else. Therefore, you can trust us not to rush you and answer all the questions you have about creating a POA which you are comfortable with.
What is a Power of Attorney?
A power of attorney is a legal document giving one person (the agent or attorney) the power to act for another person (the principal). The agent can have broad legal authority or limited authority to make legal decisions for example about the principal’s property, finances, business or medical care.
A power of attorney can cover a wide scope of matters depending on the particular person’s requirements. In real estate matters for example, a power of attorney can be used when one or both parties are unavailable and a party is needed to represent the other to finalise a transaction on their behalf.
Who can give power of attorney?
The requirements for giving power of attorney to someone is that the person giving authority should be an adult (over 21 in the UAE) and have required mental capacity to make decisions. The person being made attorney can also be anyone as long as they meet the same requirements in relation to age and mental capacity and have legal authority to undertake the work they are being assigned.
What are the risks involved?
Great care should be taken when appointing someone as an attorney on your behalf as once appointed, they will be able to make important decisions on your behalf. Either an attorney should be someone you would trust to make all decisions on your behalf, in which case you can give them a general, all-encompassing power of attorney, or you can give a specific power to an attorney, allowing them to deal with only certain aspects of your affairs on your behalf, i.e. property, business etc.
How long does a power of attorney last?
This would depend on the type of power of attorney granted. It can either be specified to end at a certain date or transaction or longer.
Can it be revoked?
A power of attorney can be revoked at any time by the person granting the power or upon their death.
Talk to us about creating a Power of Attorney in the UAE. To book a consultation, please contact us on firstname.lastname@example.org or call +971 4 448 4284TWS now serves clients as a `one-stop law firm’ based in Jumeirah Lakes Towers, Dubai and offers full legal services both in the private client and corporate/commercial services:
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Wills & Estate Inheritance; DIFC Wills; Abu Dhabi Wills, UK Wills, Administration of a Deceased’s Estate & Probate; Sharia Law and Inheritance issues; Family & Divorce Matters; Custody & Guardianship; Financial Settlements; Division of Assets; Travel Bans; Mediation & Reconciliation; Employment Disputes; Property/Real Estate Matters; Gifting of Property; Powers of Attorney and Certification.
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Why use TWS Legal Consultants:
– Leading and established law firm in Dubai for over a decade
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– Registered a high volume of DIFC Wills at the DIFC Wills Service Centre