A Power of Attorney allows one person to appoint another person to act on their behalf. In Barbados, there are two kinds of power of attorney:
- The General Power of Attorney
- The Specific Power of Attorney
General Power of Attorney
The General Power of Attorney literally gives the authority to act generally. The person who receives that general power (the donee) can make decisions, sign documents and even apply for loans in the name of the person who gave the power (the donor). The general power of attorney covers all situations and ensures that the donee is able to make decisions on behalf of the donor in all situations.
Specific Power of Attorney
The Specific Power of Attorney limits the power of the donee to a specific decision or to act in a specific circumstance. The Specific Power of Attorney can enable the donee to withdraw monies from a bank account but prevent the donee from opening a new bank account. It can also limit the amount of monies that can be withdrawn at any time.
Every situation is different and the needs of individuals at any given time are different. The Power of Attorney can be drafted to respond to every situation and to every need.
We will examine both kinds of Power of Attorney in more detail in later posts.