Power of Attorney
The Power of Attorney is a legal document in which a principal delegates his legal rights to his agent for financial purposes, medical, child care. It is an important legal document in which an agent has the legal right to sign the legal documents, take a financial decision, medical cases, and child care. You need Power of Attorney if you are incapacitated, medically unfit to do anything, or facing a disability. You also need the power of attorney if you are not living in the state and don’t have much time to look after the matters. In these cases, you can appoint an agent.
The power of attorney is of two types, first is the limited power of attorney. It means that the agent has only limited powers mentioned in the power of attorney. For example, he can make only a few financial transactions or can sign only a few documents, etc. Another type is the Durable Power of attorney. It continues when the principal is incapacitating and unable to do anything. It also includes vast powers regarding financial, health care, child care.
Legal Services
The important thing to consider in the power of attorney is, the agent should have expertise in the relevant profession. For example, if the power of attorney is about financial purposes so the agent should have professional skills and expertise in financial matters.
The Power of Attorney has a very effective and important role in the business sector of Thailand. Most people do business in other states and cities, it is difficult for them to go there and manage business affairs. The power of attorney helps them to manage their business by delegating the limited powers to their trust one person. It helps them to run a successful business without any difficulty.
In Thailand, the power of attorney also needs a supporting document to make it more legally effective and acceptable before the law. It needs a Thai ID for Thai residents. If the businessman is a foreigner then a copy of a passport will be the supporting document.
Thai Legal System:
According to the Thai legal system, there are the following conditions to register the power of attorney;
1. It should consider that the principal and agent have the legal capacity to enter and fulfill legal liabilities. They should have the legal capacity to grant and execute the power of attorney.
2. The Power of Attorney should be witnessed by 2 people. If you want to make the power of attorney, it should be witnessed by two people.
3. Power of attorney can be in Thai script form and English Form.
4. The power of attorney should make for a specific period. It can for three months start from the date of signing of power of attorney. The validity of the power of attorney also depends upon the approval of the officer from the Land office.
5. It should include in the power of attorney that, in which cases the agent can use the mentioned authorities/rights. What are the limitations? etc.
6. If the power of attorney will execute in a foreign land then according to the Thai legal system it should notarize from the Thai Royal Embassy. The notarization should be done before six months of applying.