The Equal Dignities Rule Ensures Legal Execution of Powers of Attorney
In Nevada, a power of attorney given must follow all requirements and guidelines given under Nevada law, for it to be legally effective; a subject we have touched on in earlier posts. Once you establish a power of attorney, it is necessary that you remember that you need to follow the right legal requirements, in order for the agent to have the authority to execute it validly.
The “equal dignities rule” is one such requirement. This legal doctrine states that any agent given a power of attorney must have this authorization in writing and an authority to enter into contracts, especially those contracts which will also be in writing. The equal dignities rule is similar to the statute on frauds, which requires contracts of some types to be in written form for them to be legal, especially if they involve goods worth more than $500, or those that will require a year or more to perform, or those that have an interest in real property.
So, the way this equal dignities rule operates is that a power of attorney given to an agent must be accompanied by a written authority that gives him or her legal empowerment to enter into any of the types of contracts that are a part of the statute of frauds. In the absence of this written authority, any agreement that an agent may enter into can be legally void and so challenged in court.
Before any power of attorney is crafted, the principal needs to give some advance thought to two things. One, the form of this power of attorney, and secondly to the extent of authority that can be given to the agent. You can have an assurance that both these things will be taken care of if you work with attorneys who are familiar with the documentation needed for power of attorney, and also that the power of attorney will serve its intended purpose, effectively.
For more information on how https://probateattorneyvegas.com/ can help you The Equal Dignities Rule Ensures Legal Execution of Powers of Attorney in Las Vegas, please contact us at (702) 388-9800, or visit us here:
The Giuliani Law Firm
500 N Rainbow Blvd #300, Las Vegas, NV 89107
