Power of Attorney In Jamaica

What is a power of attorney in Jamaica?

Power of attorney in Jamaica definition: A power of attorney (POA) is a legal document that lets you appoint someone to handle financial and legal matters on your behalf. The person authorizing the other to act on their behalf is referred to as the principal, grantor, or donor. The person authorized to act is the agent or attorney-in-fact. With a power of attorney, the person you appoint will be legally permitted to take care of important matters for you, including paying your bills and managing your investments, if you are unable to do so for yourself. A durable power of attorney (DPOA) serves the same function as a power of attorney, however, a durable power of attorney is effective even if you become incapacitated.

Types of Power of attorney in Jamaica?

There are several different kinds of power of attorney. These include:

• General – allows the appointee to conduct any kind of business, on the donor’s behalf.

• Limited – allows the appointee to perform only specified acts on the donor’s behalf.

• Springing – allows the appointee to act on the donor’s behalf upon the occurrence of a specific event, such as the donor becoming physically or mentally disabled.

Benefits of a power of attorney in Jamaica

1. Choose a decision maker

Let someone you trust make important financial decisions if you’re unable to.

2. Avoid the courts

A power of attorney is a cheaper and less stressful alternative to guardianship proceedings.

3. Provides peace of mind

With a plan in place, your finances stay under control if a serious illness occurs.

Situations that require a power of attorney in Jamaica must include:

1. When the donor is unable to make informed health decisions because of mental or physical limitations. In such cases, a power of attorney is arranged before the donor develops such limitations.
2. When a land or business owner resides overseas and is unable to travel to the country where the land or business is located to manage the property or enterprise.
3. When the child of a donor will temporarily be living away from his or her parent(s) and in the custody of a guardian.

Arranging a Power of Attorney in Jamaica

When arranging a power of attorney these steps are to be followed:

• The document should be drafted by the donor or a qualified legal practitioner, and should:
• Outline the names of the participants as well as the conditions and duration of the agreement.
• Be signed by the donor and the appointee and verified by a Justice of the Peace (JP). The JP should also affix his or her seal to the document.
• Be stamped by the Inland Revenue Department and the requisite stamp duty paid.
• Be registered at the Island Records Office at the Registrar General’s Department and the registration fees paid.
• After these steps are completed, the applicant will be given the date for pick-up of the registered power of attorney document.

The power of attorney in Jamaica is valid from registration until the stated end date, or until:

1. The task assigned to the appointee is completed.

2. The donor decides to terminate the agreement.

3. The donor dies.