Saving For A Goal Calculator
Receive for free the latest financial tips, updates and our monthly eNewsletter by subscribing to Money Matters BVI.
Appointing someone through a power of attorney gives the person the legal authority to look after your affairs on your behalf. That means that whatever the person does on your behalf will be as if it were done by you. That’s why it is extremely important that you are careful to choose the best person to invest with that kind of authority. Try to choose someone you know to be trustworthy, financially astute, and likely to be around when you need him/her. Generally speaking, there are different types of powers of attorney.
A general power of attorney is where you appoint someone to make financial and legal decisions for you, usually for a specified period of time, for example, if you're overseas and unable to manage your legal affairs at home. This person's appointment becomes invalid if you lose the capacity to make decisions for yourself.
An enduring power of attorney is where you appoint a person to make financial and legal decisions for you if you lose the capacity to make your own decisions.
A medical power of attorney can make medical decisions on your behalf if you become unable to do so yourself.
British Virgin Islands Financial
P.O. Box 418
Road Town, Tortola, VG 1110
Hours: Monday-Friday 8:30a.m. - 4:30p.m.