Power of Attorney for Financial matters and Medical matters for ageing parents.

[Brighteagle9816]

B

Brighteagle9816
PARTICIPANT
February 21, 2025 at 7:33 am

Both my parents are getting old.

So they want to give me PoA for their Financial matters and Medical matters.

1. So should I make 2 seperate PoA for each of them or 1 combined PoA is enough for both of them?

2. Is just a notarized Poa by lawyer enough or do I have to pay Stamp Duty, Registeration etc?

3. Is Medical PoA same as Living Will?

Do I have to make 2 seperate PoA – one for Medical matters and 1 for Financial matters? Or I just make 1 PoA where both Medical/Financial matters are in it?

4. What will be the approximate cost for making this PoA for both my parents in my name? In Mumbai?

5. Any good lawyer/firm in Mumbai, whom you can recommend. Who is reputed, reasonable cost & competent?

Thanks for any advice.

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A. Financial Matters:

I should be able to operate all their bank accounts, Fixed Deposits and any Investment they have got like Shares & Mutual funds.

Flat is in Joint name with me & my mother. Father is not on the agreement. Any property related matters also I should be able to handle through this PoA.

B. Medical Matters:

Any medical decisions with doctors, hospitals, medical insurance company, diagnostic centre etc , I should be able to take with this PoA.

———

What will be the procedure for this? Is it a standard format for such PoA? Any specific things, I need to look for, when such a PoA is drafted by the lawyer?

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[Ashishmaster940]

A

Ashishmaster940
PARTICIPANT
February 22, 2025 at 2:22 am

Lawyer here.

1. Make separate. 
2. Registered. 
3. No 

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[Brighteagle9816]

B

Brighteagle9816
OP
February 22, 2025 at 5:47 am

2. Registered as in going physically to a court or some sub registrar office in Mumbai to get it registered? Is there any stamp duty you have to pay or just some nominal registration charge?

Parents can’t physically travel anymore, so won’t be able to go to some registrar office for biometric, iris scan etc.

They can sign and do thumb print etc. Both are mentally fine and healthy, just physically going out is a huge issue for them.

Somehow for 10-15 minutes, I can take them to some lawyer’s office for signing etc in person.

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[Ashishmaster940]

A

Ashishmaster940
PARTICIPANT
February 22, 2025 at 8:02 am

Registration happens in government offices. Hire a agent who can get it done on date and time of your convenience

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[Brighteagle9816]

B

Brighteagle9816
OP
February 22, 2025 at 9:53 am

Okay cool 👍.

So their (parents) physical presence in the government office will be required?

Or can I just go with the lawyer or his agent on my parents behalf with all the signed documents from the lawyer/witness and their original ID’s and get it registered?

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[Ashishmaster940]

A

Ashishmaster940
PARTICIPANT
February 22, 2025 at 10:28 am

Parents are required 

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[Brighteagle9816]

B

Brighteagle9816
OP
February 22, 2025 at 10:37 am

Okay thanks 

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