Damaster Plan

Dubai, UAE

An insight about wills and power of attorney

2 min read

People can start their company in Dubai through the platform of RAK offshore. If they want to make their wills in Dubai then they have to go to a separate company which is expert in this making wills and power of attorneys. Power of attorney is a temporary kind of will in which you can hand over your property or wealth or business to someone else for a definite period of time and you will be the real owner of the property and can get back the company by canceling the right of the other person called agent. Three different kinds of power of attorneys are available for the ease of the public. These are as follows:

General power of attorney: If a person is unable to take care of his property due to any reason then he can hand over it to other person on whim he has trust. Trust is necessary for transferring the right because if it is given to any untrusted person then he may damage your property of make fraud with you. In this type of attorney any general sort of powers will be handed over to the agent for a time which is definite and mentioned in the documents.

Special power of attorney: If a person needs to have a special kind of task which he thinks he cannot do or which he thinks that the agent will do better then he can give his right to the agent for that particular task. The agent is unable to do anything further than for what he is appointed for. He can take decisions for that particular task with the best of his intention and with the responsibility but he cannot do anything or cannot take any decision other than that.

Eternal power of attorney: This is the permanent kind of authority which is given to the most trusted person from the family, friends or even from the business. The need of this kind of power of attorney rose when it is clear that the principal will be incapable of handling all the things about his business in future. It may be due to any kind of health issues or may be due to the death of the principal. It should be handed over very carefully to someone trusted.