A power of attorney is a public document that an individual or legal entity signs with the approval of a notary to designate another person as their legal representative. This authorizes them to act on their behalf in different legal or material acts.
This measure is very useful for various life situations and especially for resolving some bureaucratic procedures in the business world.
With these documents, notaries ensure that the identity of the person granting it, called the "grantor," as well as their wishes, comply with the law. On the other hand, the person designated as legal representative or "attorney-in-fact" must prove this status by presenting a copy of the granted authorization.
We distinguish between different types of powers of attorney:
General Powers of Attorney:
These are deeds by which one person grants all possible powers to another to take care of their entire assets. This type of power of attorney is characterized by very broad powers, which poses a risk.
Special Powers of Attorney:
These are deeds by which one person grants powers to another to perform one or several specific acts. This type of power of attorney is characterized by limited powers, for example, they can only buy, sell, handle inheritances, etc.
Powers for Litigation:
This is a notarial document by which a person grants representation powers in legal proceedings to their lawyers and court representatives.
Travel Authorizations:
When minors travel abroad without being accompanied by their parents or guardians, the trip can be authorized through this notarial document, which the minor must carry with them along with their DNI or passport.
Preventive Powers in Case of Incapacity:
These are powers in which a person grants powers to another to do everything necessary in case the grantor becomes incapacitated in the future. It is a very useful tool to avoid problems as one ages.
Commercial Powers of Attorney:
These are powers conferred by a company, through its administrator, in favor of a person who can handle one or more commercial operations on behalf of the company.
Required Documentation:
General Powers of Attorney:
DNI of the grantors, name, address, and marital status.
If it is a company, valid powers or appointment of administrators.
Details of the attorneys-in-fact, name, address, marital status, and DNI.
Powers granted (for what matter the power is granted).
Powers for Litigation:
DNI of the grantors, name, address, and marital status.
If it is a company, valid powers or appointment of administrators.
Names of court representatives and lawyers and the bar association to which they belong. (Important).