A Power of Attorney is a powerful document that grants permission to a person to act on the other’s behalf. The person who gives that authority is the Principal or the Grantor. The one who receives it is the Agent or the Attorney-in-Fact. In Thailand, there are generally two types of Power of Attorney including General Power of Attorney and Special Power of Attorney. This article will explain the importance of Power of Attorney in Bangkok and the benefits that you can get from it.
Let’s share something more about the Power of Attorney in Bangkok:
- A Power of Attorney can become essential during any special circumstances. For instance, if a person working in the military service and is deployed outside the country needs to grant some authority to his/her family members. In this case, he/she can develop a power of attorney and grant its utility permission for his/her family members on his/her behalf.
- People also set up a Power of Attorney if they are traveling extensively. This is for granting permission to someone who can act on their behalf in case they do not have a spouse to take care of the affairs back home.
- The Special Power of Attorney in Thailand has limited scope and validity. This is useful when a person cannot handle a specific commitment. Additionally, it is also useful in case of an inability to handle the affairs during any short-term illness. For instance, you can grant this Special Power of Attorney to a person for tasks such as signing a deed or collecting a debt if you are out of the country.
- The General Power of Attorney in Thailand has much broader aspects. It is much more comprehensive and can give Agent broad powers in handling tasks and acting on your behalf. This includes the following:
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- signing important documents.
- managing your financial transactions.
- settling your claims.
- taking decisions pertaining to your business, and,
- any other duties that you specify in the Power of Attorney.
A general Power of Attorney is valid until your death.
The law in Thailand requires both the Agent and the Principal to be legally capacitated. Additionally, they must be able to both give and execute the powers as mentioned in the Power of Attorney. In case you need any help in drafting a Power of Attorney in Bangkok or any other place in Thailand, then contact us at +66 26260277. Alternatively, you may email us your requirements at [email protected].
