Full question:
I gave a 'General Durable Power of Attorney Effective upon execution' on Dec 12 2008 in front of Notary public Jeanne Robinson Carroll county Maryland, to my sister. The purpose was to act on my behalf with regards to bank matters of my deceased mother. Such matters were to be executed overseas in India where the deceased held accounts.1. What is the validity of this Power of Attorney document? Is there a time limit after which the power becomes invalid?2.If the said power is valid how can this be revoked?Thank you
- Category: Power of Attorney
- Date:
- State: Massachusetts
Answer:
To cover overseas assets, the power of attorney must be broad enough to comply with the laws of the relevant country and the signature of the principal should be witnessed by a notary public. The power of attorney must then be taken to the consulate or trade commission of the country where it is to be used. The consulate or trade commission then certifies the signature of the Foreign Affairs officer who signed the certificate on behalf of the Department. The cost and time involved varies from consulate to consulate.
Once these steps have been taken, the document can be used in a country where the signature of the Department of Foreign Affairs officer has been certified, as long as the wording of the document complies with the law of the relevant country.
The wording of the power of the attorney may specify a time limit or contingency when it ceases to be ffective. When the principal dies, it is automatically voided. In order to revoke, cancel, or end a power of attorney before it expires, the principal must sign a revocation of power of attorney and give a copy of the revocation to any person who might have or will possibly deal with the agent. I suggest calling the Indian entity to inquire about their regulations for acceptance of a power of attorney, as banks often have their own rules on the format and/or age of a power of attorney to be accepted.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
