Ready to use legal template
Drafted by experienced lawyers
Compliant with Malaysian law
Ready to use legal template
Drafted by lawyers
Compliant with Malaysian law
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Learn more about Power of Attorney in Malaysia
A Power of Attorney (POA) is a legal document that grants one person the authority to act on behalf of another person in specified matters. This can include managing financial affairs, making legal decisions, handling property transactions, or other designated tasks. The Power of Attorney is essential for individuals who may be unable to manage their own affairs due to illness, travel, or other reasons, and it provides peace of mind knowing that trusted individuals can handle important matters on their behalf. In Malaysia, it is vital to ensure that the POA adheres to legal requirements and clearly defines the scope of authority. Download our Power of Attorney, easy to edit in Word format, professionally drafted by experts for use in Malaysia, and protect your interests today.
Table of contents
What is a Power of Attorney?
A Power of Attorney (POA) is a document that authorizes an individual, agency, or organization to make decisions about the owner’s property on their behalf. The POA will effectively grant the individual limited, or complete, jurisdiction over the aforementioned properties or assets. POA serves as a convenience tool for persons who live outside the nation and require someone they can trust to handle their assets (including properties) locally. This is because it makes no sense for owners to go back and forth on a frequent basis solely to sign paperwork. Remember that people to whom you give the POA do not become the owner of your properties.They are only authorized to administer the properties on your behalf.They cannot inherit or pass on an inheritance, modify an existing will, change a beneficiary, or issue power of attorney to someone else on your behalf.
When to use a Power of Attorney?
The power of attorney can be used for a variety of purposes. The grantor has control over the extent and scope of powers granted to the nominated agent. This document can be used for:
➤ Completing contracts in Malaysia on another's behalf: can be used when the company directors/administrators need to conclude a contract with a customer but are unable to do so in person. |
➤ Managing business incorporation processes in Malaysia: can be utilized effectively by entrepreneurs who want to start a company in Malaysia but cannot be present in the country during the complete company formation procedure. |
➤ Real estate or financial planning: for those who require someone else to make financial decisions on their behalf; can also be set to take effect if the primary loses mental capacity to handle financial concerns. |
➤ Healthcare issues: when the individual needs someone else to make health-related decisions for him or her because he or she no longer has the mental capacity to do so. |