-Traveling abroad can be a wonderful experience. More so, during these post Covid times when different borders are reopening and nations are welcoming tourists.
However, planning for international trips is a process that requires adequate preparation. You must understand where you’re heading, what the trip entails, and how long you’ll take. That said, you must ensure you have a must-to-do or carry list from your prescription, checks/foreign currency, medication to copies of your travel documents-visas or permits, and passports.
Even still, most travelers forget the need for a special power of attorney while preparing to travel. For any traveler planning to leave the U.S for another country, it would be an excellent idea to have someone you can trust with your properties or assets for the time you’ll be away.
Why do you need a Power of Attorney while traveling abroad?
Amongst the things that would deny you the total concentration on your trip is worrying. You’ll probably keep thinking about your real estate, businesses, or financial affairs and how they would prosper while you’re away. This has even made most people cut their trips just to come back and manage their affairs.
But, you don’t need to worry about your affairs anymore! All you need to do is to prepare a power of attorney. Of course, there are different types of power of attorneys dealing with issues or concerns.
You can have a special power of attorney- a legal document granting a specific individual (Someone you can trust) the power or authority to take care of and manage specified legal affairs on your behalf. This person can sign your business, financial and real estate contract and access your bank accounts in your absence. Still, they can authorize your family members to handle any emergency.
The good thing with assigning a special power of attorney is that attorney-in-fact can only operate while you’re away or for the limited time agreed upon with minimal powers as compared to a General Power of Attorney.
How long should a Special Power of Attorney last?
They are effective for a limited duration. In most cases, they would work until you come back from your trip. However, you do not need to have a fixed end date for special PoA. This is to help if you experience some delays in your trip as your agents would continue to manage your affairs.
Will a Special Power of Attorney still be effective after you die?
No, the Special PoA will stop being effective once you die, and it’s not like you can give your agent the authority to manage your funeral programs. In other words, the document would not be in effect after your death.
Can you revoke a Special Power of Attorney while you’re in a different country?
Yes, you can formally revoke the powers of your agent in writing. Just ensure you include the date and the name of your special agent and other financial providers involved in the revocation of power of attorney document.
Also, ensure you issue your agent with a copy of the assigned document and notify any financial institutions involved and that may have operated with your agent in your absence. This makes them aware that your attorney no longer represents you.
There’s only one challenge you may experience. Some states only allow remote notarization and this may hinder your efforts while you’re abroad. So, check with your state’s laws before you decide on what next.
Do you plan to travel abroad? If so, then consider having a Special Power of Attorney. Also if you require, download a free power of attorney form from this website for any state in the USA.