In Singapore, an attorney can help individuals acquire a power of attorney. These assignments can help an estate owner secure their wealth and prevent any unethical use. It can also entitle spouses to funds and assets when they need them the most. The following is details about circumstances in which a power of attorney in Singapore is needed.
Manage the Individual’s Finances
The assignment allows another individual to manage the owner’s finances. In some circumstances, this is beneficial when the owner has become incapacitated and cannot make sound decisions on their own. The assignments are provided to enable a family member to write checks and pay for their expenses. It also allows them to manage the individual’s income costs related to health care or their property as well.
Sell Their Property
The power of attorney assignment also enables the individual to sell the property of an estate owner. These sales are coordinated according to the authority provided to these individuals. The assignments can include provisions that stop them from selling to a specific individual. They can also define a price that is required for the property before a real estate transaction begins.
Make Legal Health Decisions
These authorities also allow another individual to make health care-based decisions for the individual. A health care proxy needs a power of attorney to make decisions for the estate owner. This can include the use of life-saving methods in dire circumstances. These assignments can allow another individual to override the wishes of the family.
Enforce an Estate Owner’s Final Wishes
The estate owner can set up a plan for their final wishes. Through a power of attorney, this individual has the legal right to ensure that the estate owner’s wishes are followed exactly. This can prevent family interference in some cases and stop disputes.
In Singapore, an attorney acquires a power of attorney when an estate owner or spouse requires assistance. This can also include military spouses who are deployed. These assignments give them the authority to sell properties and manage financial assets as well. Estate owners who need to set up this authority can contact an attorney right now.