Limited Power Of Attorney For Stock Transactions: Fill & Download for Free

A power of attorney authorizes someone else to do something that the maker of the POA could otherwise do themselves. However, such a document is easily revocable at any time, or when the maker dies. A “durable” POA is an attempt to make the POA last past death sometimes, or to prevent its easy revocation. How well that succeeds depends on what supports the “durable” idea, and whether the maker of the POA has clearly agreed to the duration. A POA doesn’t become durable just by putting a word in the title; it takes something extra.I excerpt the following from Durable power of attorney :“Powers of attorney are routinely granted to allow the agent to take care of a variety of transactions for the principal, such as executing a stock power, handling a tax audit, or maintaining a safe-deposit box. Powers of attorney can be written to be either general (full) or limited to special circumstances. A power of attorney generally is terminated when the principal dies or becomes incompetent, but the principal can revoke the power of attorney at any time.A special type of power of attorney that is used frequently is the "durable" power of attorney. A durable power of attorney differs from a traditional power of attorney in that it continues the agency relationship beyond the incapacity of the principal. The two types of durable power of attorney are immediate and "springing." The first type takes effect as soon as the durable power of attorney is executed. The second is intended to "spring" into effect when a specific event occurs, such as the disability of the principal. Most often, durable powers of attorney are created to deal with decisions involving either property management or health care.Durable powers of attorney have become popular because they enable the principal to have her or his affairs handled easily and inexpensively after she or he has become incapacitated. Before the durable power of attorney was created, the only way to handle the affairs of an incapacitated person was to appoint a guardian, a process that frequently involves complex and costly court proceedings, as well as the often humiliating determination that the principal is wholly incapable and in need of protection.With a durable power of attorney, on the other hand, a principal can appoint someone to handle her or his affairs after she or he becomes incompetent, and the document can be crafted to confer either general power or power in certain limited circumstances. Because no judicial proceedings are necessary, the principal saves time and money and avoids the stigma of being declared incompetent.The concept of the durable power of attorney was created in 1969 when the National Conference of Commissioners on Uniform State Laws promulgated the Uniform Probate Code (U.P.C. § 5–501). Ten years later, the provisions of the code dealing with the durable power of attorney were modified and published as the Uniform Durable Power of Attorney Act (UDPA). All fifty states recognize some version of the durable power of attorney, having adopted either the UDPA or the Uniform Probate Code, or some variation of them. Versions of the durable power of attorney vary from state to state. Certain powers cannot be delegated, including the powers to make, amend, or revoke a will, change insurance beneficiaries, contract a marriage, and vote.”

If you are a NRI and hold a NRE or NRO account in India, you can invest in mutual funds and other financial products such as NRI fixed deposits, stocks, bonds, government securities, real estate and more, subject to the prescribed regulations.You can invest directly or authorise somebody else on your behalf by giving him/her the power of attorney.To make it easier, below is the step by step guide for investing in MFs for a NRI:Step 1: Open a NRE or NRO account with your respective bankStep 2: Do your KYC as that is a mandatory requirementa. ) If you are planning to carry out transactions yourselfSubmit your PAN, Passport, residence proof outside India and your bank statement to your bank. In case your bank also asks you to do an In person Verification (IPV), you can do so by visiting the Indian Embassy in the country where you are residingb. ) If you will appoint a power of attorney (PoA) to carry out transactions on your behalfThe KYC documents that you submit to your bank should contain yours as well as your PoA’s signature on the documentsNOTE:As a NRI, not all fund houses will allow you to invest in their schemes, so the options might be a bit limited.I would strongly advise to take the help of a financial advisor/planner based in India who can help you with information on regulations, taxes, mode of payment, as well as help you choose the best mutual fund schemes that align to your goals.Hope this helps.For more detailed information on how to plan your finances better, do check out and follow my blog The Finance PinAll the best. :)

If you are a NRI and hold a NRE or NRO account in India, you can invest in mutual funds and other financial products such as NRI fixed deposits, stocks, bonds, government securities, real estate and more, subject to the prescribed regulations.You can invest directly or authorise somebody else on your behalf by giving him/her the power of attorney.To make it easier, below is the step by step guide for investing in MFs for a NRI:Step 1: Open a NRE or NRO account with your respective bankStep 2: KYC is mandatory for all investorsa. ) If you are planning to carry out transactions yourselfSubmit your PAN, Passport, residence proof outside India and your bank statement to your bank. In case your bank also asks you to do an In person Verification (IPV), you can do so by visiting the Indian Embassy in the country where you are residingb. ) If you will appoint a power of attorney (PoA) to carry out transactions on your behalfThe KYC documents that you submit to your bank should contain yours as well as your PoA’s signature on the documentsNOTE:As a NRI, not all fund houses will allow you to invest in their schemes, so the options might be a bit limited.I would strongly advise to take the help of a financial advisor/planner based in India who can help you with information on regulations, taxes, mode of payment, as well as help you choose the best mutual fund schemes that align to your goals.Hope this helps.For more detailed information on how to plan your finances better, do check out and follow my blog The Finance PinAll the best. :)