Private Office

Power of Attorney

With a Power of Attorney for Panama, you ensure that your trusted person can handle your affairs in an emergency – without bureaucratic hurdles or court-imposed restrictions in Panama. Without this document, even your spouse is not automatically authorized to act on your behalf.

Why is a Power of Attorney Essential?

1. Legal Security for Your Trusted Person

Only with a Power of Attorney is your trusted person legally authorized to act on your behalf permanently and comprehensively. Without it, a court-ordered guardianship is required, where your family members must document and seek approval for even everyday actions (e.g., bank transfers).

2. Avoid Third-Party Control

If a Power of Attorney is missing, the court may appoint a third-party guardian who does not know your wishes and can only make decisions based on your presumed will.

3. Beyond the “Spouse Emergency Representation Law”

The Spouse Emergency Representation Law, in effect since January 1, 2023, is not a substitute: it is limited to healthcare decisions and only valid for a maximum of six months.

What Does a Power of Attorney Regulate?

With a Power of Attorney, you authorize your trusted person to act on your behalf in the following areas:

1. Health and Care
  • Decisions on medical treatments
  • Access to your medical records and information from doctors
  • Sharing medical records for second opinions
2. Residence and Accommodation
  • Choice of nursing home or hospice
  • Termination of rental agreements
  • Dissolution of your household in case of permanent relocation
3. Asset Management
  • Management of bank accounts, investments, and real estate
  • Execution of transfers and conclusion of contracts
4. Official Matters
  • Communication with tax authorities, pension funds, or banks
  • Submission of applications and receipt of official notices

Benefits of Our Power of Attorney

  • Legally Secure: Drafted in accordance with current laws and reviewed by experts.
  • Customizable: Tailor the document to your personal needs.
  • Easy to Create: Clear wording and step-by-step instructions.
  • Digital and Printable: Use the document conveniently online or print it out.

How to Create a Power of Attorney

  1. Choose Your Trusted Person
    Consider who can best represent your interests.
  2. Define the Scope
    Decide which areas the Power of Attorney should cover.
  3. Draft the Document
    Use our template or consult a lawyer for personalized advice.
  4. Notarize or Certify if Necessary
    For real estate transactions, a public certification (from €10 at the guardianship office) is sufficient.
  5. Store the Document Safely
    Inform your trusted person and keep the document in an accessible location.

Informationen für unsere deutschsprachigen Kunden.