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A General Power of Attorney is a formal document used to appoint someone as your agent and attorney to look after all your affairs when you are unable to do so. The person appointed as your agent will be able to deal with all aspects of your affairs, including buying and selling assets on your behalf, operating your bank accounts, managing your business affairs and signing any documents for you. A General Power of Attorney is most often used by people who need someone to tend to their affairs because they are overseas or are unable to look after their own affairs for some other reason.
Obviously, you should only use this document to appoint someone you really trust because the wide powers given to an agent in terms of a General Power of Attorney can sometimes be abused. For this reason people often appoint a family member or professional person (such as an attorney or accountant).
Our General Power of Attorney will ensure that your agent is granted a comprehensive range of powers so that he/she can attend to all of your affairs with maximum efficiency and effectiveness. We also give you the flexibility to appoint more than one person as your agent and attorney. The document even allows more than one person to appoint one or more people as their agent(s). In other words, this document is designed to provide you with maximum flexibility in the management of your affairs.
Full details of the contract:
The drafting process utilized for the general power of attorney includes the following capabilities:
The power of attorney allows up to three persons to appoint an agent/attorney to look after their joint and/or individual affairs.
The document provides for the appointment of a single person as the agent/attorney or for the granting of joint and several authority to up to three agents/attorneys.
Authority may be given in respect of only such matters as arise within South Africa or a comprehensive authority can be given including issues arising throughout the world.
The broadest possible powers are made available to the agent/attorney. Examples of these powers include, amongst other things, the power to:
demand, sue for and receive all debts, assets or sums of money due to the person giving the power of attorney (“the mandator”);
settle or compromise any litigation or claims and sign documents in relation thereto;
sell, let and deal with any immovable property belonging to mandator and to sign any documents in relation thereto;
open and operate any banks accounts on behalf of the mandator and to give security in relation thereto;
invest any money on the mandator’s behalf and to manage any such investments;
sign documents of any nature on behalf of the mandator; and
represent the mandator’s interests in any incorporated or unincorporated businesses.
The contents and terms of each general power of attorney are dependent on the responses given during the online interview process. As a result, the above list constitutes a broad overview of the issues typically addressed in the power of attorney and is not intended to be exhaustive.