Legal Documents

Wills

A will or testament is a legal declaration by which a person names one or more persons to manage his/her estate and provides for the transfer of his/her property at the time of death. 

Any person over the age of majority and of sound mind (having appropriate mental capacity) can draft his or her own will with or without the aid of a lawyer. Additional requirements may vary, depending on the jurisdiction, but generally include the following requirements:

The testator must clearly identify himself or herself as the maker of the will, and that a will is being made; this is commonly called "publication" of the will, and is typically satisfied by the words "last will and testament" on the face of the document.

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Power Of Attorney
 
A power of attorney (POA) or letter of attorney is a written authorisation to represent or act on another persons behalf in private affairs, business, or some other legal matter. The person authorising the other to act is the principal, grantor, or donor (of the power), and the one authorised to act is the agent, donee, or attorney. Formerly, a power referred to an instrument under seal while a letter was an instrument under hand, but today both are under hand (i.e., signed by the donor), and therefore there is no difference between the two.

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Partnership Agreement

When two or more individuals join as partners and enter into business together, forming a partnership agreement could prevent any future conflicts. The agreement is an ideal way to determine the terms, rights and responsibilities of all individuals within the partnership. In most cases, a properly constructed partnership agreement determines how individuals are able to exit the partnership in a fair and precise manner. 

As a partnership does not have a separate legal existence like an incorporated company,  the partners are jointly and severally liable for the debts of the business. 

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