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- DEAR VISITORS, If you want to become familiar with the description and the contents of UK business entity registration packages, offered by Coddan and to find above, what kind of service is included in this or that UK company formation package, to get an idea about the price of annual renewal of the service, and about the general legal requirements to the company incorporation within foreign countries, please, select the package you need from the list, situated below the banner. The information in the banner will be renewed according to the package you've chosen. The basic document package we provide will not differ significantly from that available at a major corporate law office.
Form a company online in minutes at lawyer-free prices. Coddan was developed by expert attorneys with experience at the most prestigious law firms in the country. We've helped over 50,000 satisfied customers, and our know-how allows us to prepare legal documents quickly and efficiently. Our documents contain advanced provisions that are not found in simple "do-it-yourself" kits or manuals. Coddan lets you take care of common legal procedures without ever leaving your home or office. We're open 24 hours a day, 7 days a week. Our research area contains plenty of helpful guidance. Simply answer an easy-to-understand questionnaire, and Coddan takes care of the rest - no need to download, no need to print. You will receive the completed legal documents printed on quality acid-free paper.
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 What is a Power of Attorney?
A Power of Attorney - is a document whereby one person confers on another the right to act on his or her behalf and in that respect the attorney can act just as though he or she were the donor of the power. Such a power can be used, for instance, to operate bank accounts or to sign documents or deeds.
A Power of Attorney is a legal instrument that is used to delegate legal authority to another. The person who signs (executes) a Power of Attorney is called the Principal. The Power of Attorney gives legal authority to another person (called an Agent or Attorney-in-Fact) to make property, financial and other legal decisions for the Principal.
A Principal can give an Agent broad legal authority, or very limited authority. The Power of Attorney is frequently used to help in the event of a Principal's illness or disability, or in legal transactions where the principal cannot be present to sign necessary legal documents. The person to whom the Power of Attorney is given does not have to be an attorney. The most important duty of the attorney-in-fact is to act as a fiduciary, making certain that all actions taken under the Power of Attorney is in the best interest of the person granting the Power of Attorney (called the "principal").
However, it should be noted that the Power of Attorney vests tremendous power to the recipient and as a result, the attorney-in-fact must be someone the principal trusts implicitly. That requirement alone would ordinarily exempt the majority of attorneys in this country, since we can trust an attorney about as far as we can throw him (although throwing an attorney would provide tremendous entertainment).
It does seem a bit ironic however that a Power of Attorney document is drafted (a fancy lawyer word for "written") by an attorney. So even though you generally wouldn't trust an attorney to exercise your wishes under the Power of Attorney, you still need the attorney to pen the document. One way or another, the attorney still manages to snare you. Which leads us to our rant of the month.
While a Power of Attorney can be a legal instrument as outlined above, there is another kind of power of attorney that should concern us all - and that's the unrestrained power afforded attorneys under the law.
The power an attorney possesses and can wield over the rest of us non-attorney types is immense. In fact, immense may be an understatement. When this omnipotent power finds its way into the hands of an unscrupulous, amoral, power crazed attorney who is wont to play fast and lose with the law, the ensuing results can be staggering to the poor sap who gets in this attorney's way.
If you've ever been on the receiving end of the merciless wrath and fury of an attorney on the warpath, you have in all likelihood experienced firsthand the intimidating power that attorney had at his or her disposal.
Power and attorney are inseparable terms these days. Just the mere fact that someone is an attorney provides that individual with an immense amount of power at his or her disposal. Attorneys, particularly those corrupt sorts who frequently dance around in the gray areas of the law, are well versed in using the law as a hammer to pound the daylights out of the other side in a lawsuit.
Think about it for a moment, an attorney can waylay you with a lawsuit at anytime and any place. Like it or not, an attorney has the power to file a lawsuit against you regardless of whether or not you've done anything wrong. After all, right and wrong are barely relevant concepts anymore in today's sue or be sued litigation crazed society.
While the attorney isn't supposed to file frivolous lawsuits, they have the power to do so. Besides, what's to stop them nowadays? Nothing really. An attorney has the power and you on the other hand, have squat.
An attorney armed with a lawsuit can swoop in from nowhere and turn your entire life upside down in the blink of an eye. Once the lawsuit has been served, the attorney has quite a bit of power over you. The attorney has the power to make you show up for a deposition and question you for hours on end.
The attorney has the power to force you to answer what seems like an endless set of interrogatories and the power to compel you to produce documents out the wazoo. The attorney has the power to accuse you of everything under the sun, with little attention paid to the validity of said allegations.
The attorney has the power to impugn your integrity and besmirch your reputation at will. The attorney has the power to recreate the facts, distort the truth and to put words in your mouth to suit his or her own fancy.
At trial, the attorney has the power to belittle you, embarrass you and humiliate you as much as he or she fits to do so. The attorney has the power to call you a liar when you're telling the truth. The attorney has the power to call you a cheat when you've never cheated anyone in your life.
As a matter of fact, the attorney has the power to call you anything and everything imaginable and even unimaginable while you have little recourse but to sit there and take it. Come on, should anyone have this kind of power over anyone? Of course not.
In today's jurisprudence an attorney, regardless of whether he or she is a super straight shooter or is in fact the biggest flimflam artist known to mankind, possesses the power to make their opponents life a living hell. No one should have the unmitigated power that the legal system affords attorneys. No one.
Attorneys are quick to espouse their esteemed position as supposed officers of the court and how their comportment is professional and consistent with the ethical requirements of the job. What a crock! The only requirements of attorneys these days are the innate ability to fleece their clientele.
- Are There Different Types of Powers Of Attorney?
Yes. There are "Nondurable" and "Durable" Power of Attorney. A "Nondurable" Power of Attorney takes effect immediately. It remains in effect until it is revoked by the Principal, or until the Principal becomes mentally incompetent or dies.
A "Nondurable" Power of Attorney is often used for a specific transaction, like the closing on the sale of property, or the handling of the Principal's financial affairs while the Principal is travelling outside of the country.
A "Durable" Power of Attorney enables the Agent to act for the Principal even after the Principal is not mentally competent or physically able to make decisions. The "Durable" Power of Attorney may be used immediately, and is effective until it is revoked by the Principal, or until the Principal's death.
A "Springing" Power of Attorney becomes effective at a future time. That is, it "springs up" upon the happenings of a specific event chosen by the Power of Attorney. Often that event is the illness or disability of the Principal.
The "Springing" Power of Attorney will frequently provide that the Principal's physician will determine whether the Principal is competent to handle his or her financial affairs. A "Springing" Power of Attorney remains in effect until the Principal's death, or until revoked by a court.
- What is a General Power Of Attorney?
A General Power of Attorney is an instrument authorising one person to act on the behalf of another, including signing legal documents and making legal decisions, writing checks, or other household matters. A Power of Attorney is appointed to act on your behalf in the event you became ill or disabled, or if you need to travel and matters need to be completed at home, etc. The person granting the authorisation is called the principal. The person authorised to act on the principal's behalf is called the attorney-in-fact or agent. The term attorney-in-fact should not be confused with an attorney-at-law. One need not be a lawyer to serve as an attorney-in-fact under a Power of Attorney.
Note that the word "attorney" is not used here to mean "lawyer". Almost anyone can be appointed an attorney by a power of attorney. The person does not need to be a lawyer. With a General Power of Attorney, your Attorney-in-Fact is authorised to undertake any acts you can do. For example, legal, business and financial matters, opening checking accounts, withdrawing funds from accounts, signing documents to sell your home, etc.
These powers usually include: Handling banking transactions. Entering safety deposit boxes. Buying and selling property. Purchasing life insurance. Settling claims. Entering into contracts. Exercising stock rights. Buying, managing or selling real estate. Filing tax returns. Handling matters related to government benefits. Maintaining and operating business interests. Employing professional assistance. Making gifts. Making transfers to revocable ("living") trusts. Disclaiming interests (this has to do with estate planning strategies to avoid estate taxes).
Ordinarily, no formality is required for a person to be an "agent" of someone else. The agency may be created by written or spoken words, or even by conduct, which demonstrates that, an agency was created. However, if the agent (i.e. attorney) will be signing any written agreements, then the agreement which grants the authority to the agent should also be in writing.
- How Do I Select an Agent for a Power of Attorney?
You should choose a trusted family member, a proven friend, or a professional with an outstanding reputation for honesty. Remember, signing a Power of Attorney that grants broad authority to an Agent is very much like signing a blank cheque.
Certainly, you should never give a Power of Attorney to someone you do not trust fully. And do not allow anyone to force you into signing a Power of Attorney.
- Can I Appoint More Than One Agent in a Power of Attorney?
Yes. You may appoint multiple Agents. If you appoint two or more Agents, you must decide whether they must act together in making decisions involving your affairs, or whether each can act separately.
There are advantages and disadvantages to both forms of appointment. Requiring your Agents to act jointly can safeguard the soundness of their decisions. On the other hand, requiring agreement of all your Agents can result in delay or inaction in the event of a disagreement among them, or the unavailability of one of them to sign legal documents.
Allowing your Agents to act separately may ensure that an Agent is always available to act for you. But it may also result in confusion and disagreements if the Agents do not communicate with one another, or if one of them believes that the other is not acting in your best interests.
Powers of Attorney are only as good as the Agents who are appointed. Appointing a trustworthy person as an Agent is critical. Without a trustworthy Agent, a Power of Attorney becomes a dangerous legal instrument, and a threat to the Principal's best interests.
- What are an Agent's Obligations to a Principal?
The Agent is obligated to act in the best interests of the Principal, and to avoid any "self-dealing." Self-dealing is acting to further the selfish interests of the Agent, rather than the best interest of the Principal.
An Agent appointed in a Power of Attorney is a fiduciary, with strict standards of honesty, loyalty and candor to the Principal. An Agent must safeguard the Principal's property, and keep it separate from the Agent's personal property. Money should be kept in a separate bank account for the benefit of the Principal. Agents must also keep accurate financial records of their activities, and provide complete and periodic accountings for all money and property coming into their possession.
Make clear to your Agent that you want accurate records of all transactions completed for you, and to give you periodic accountings. You can also direct your Agent to provide an accounting to a third party-a member of your family or trusted friend-in the event you are unable to review the accounting yourself.
- Is it Possible for an Agent to Steal My Money and Property?
Yes. A Power of Attorney can be abused, and dishonest Agents have used Powers of Attorney to transfer the Principal's assets to themselves and others. That is why it is so important to appoint an Agent who is completely trustworthy, and to require the Agent to provide complete and periodic accountings to you or to a third party.
- Can a Transfer of a Principal's Assets to Other People be a Good Thing?
Yes. A Principal may want to authorise transfers or gifts property for estate planning and other valid purposes.
- Who Monitors the Actions of My Agent?
There is no official or government monitoring of Agents acting pursuant to Power of Attorney. That is the responsibility of the Principal. It is therefore important to insist that your Agent keep accurate records of all transactions completed for you, and to provide you with periodic accountings. You might also direct your Agent to give an accounting to a third party in the event you are unable to review the accounting yourself.
Should a Principal, member of the Principal's family or a friend have grounds to believe that an Agent is misusing a Power of Attorney, the suspected abuse should be reported to the police or other law enforcement authority to protect the Principal from the loss of his or her property. Consider asking a solicitor for help and advice.
- What Can I Do if My Agent Does Not Follow My Instructions?
You may revoke your Power of Attorney at any time. You should inform your Agent, in writing, that you are revoking the Power of Attorney. Request the return of all copies of your Power of Attorney. You should notify your bank or other financial institution where your Agent has used the Power of Attorney that it has been revoked. If you decide to revoke a Power of Attorney, it is probably in your best interests to consult a solicitor, and arrange to have a new Power of Attorney executed.
- How Many Copies of a Power of Attorney Should I Sign?
You are required to sign (execute) only one copy. However, it is not unusual for a Principal to sign several original copies. Banks and financial institutions, for example, generally require an original or a certified copy before allowing an Agent to transact business on the Principal's behalf. And banks frequently provide customers with their own Power of Attorney forms.
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£ 125.00
Nominee Director Service for Public Records for one year:
It is a perfectly legal device which preserves the privacy of an individual. It is designed to help a person who would rather not disclose their interest or association with a given corporate body.
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