To be appointed as a legal representative, the person must be a local or foreigner with the legal right to live and work in the country. Biz Latin Hub has extensive experience in the incorporation process of the company; If you have any questions or concerns regarding the incorporation process and/or the role of legal representative, please do not hesitate to contact us. Your authorized representative (also called an agent) receives a power of attorney. He or she can only act for you during his or her lifetime and has the power to make decisions on your behalf regarding your financial and legal affairs. The officer may be allowed to act for you even if you are still in good mental health, or may not act for you until it is proven that you are unable to work. An executor or administrator is an authorized representative acting on behalf of the legally incapable or deceased person, which means that they are authorized to make all decisions on their behalf regarding the handling of their personal affairs, property, bills, debts, payments and other responsibilities. A corporation such as a corporation, law firm or trustee may also be appointed as an authorized representative with these decision-making powers. Appointing a legal representative for a company is common for companies and the role they play can be varied, but it is important to do it correctly. My answer is this: Although the law may allow you to appoint co-representatives in your legal documents, you may not be satisfied with the practical outcome. If your co-representatives can`t reach an agreement or don`t work well together, you can expect lawsuits, court battles, and broken families.
In the meantime, you`re not getting the best care you deserve. If you don`t believe the co-representatives will be able to work together, then name a primary and an alternative if the primary can`t do the job. If you decide to appoint co-representatives, you may not want to appoint more than two co-representatives at a time. While it can be nice to have odd numbers to help with tiebreakers, too many cooks in the kitchen almost always spoil the soup. “Legal representative”. Merriam-Webster.com Legal Dictionary, Merriam-Webster, www.merriam-webster.com/legal/legal%20representative. Retrieved 6 January 2022. “Estate” is simply the legal term for all property of the deceased at the time of death, including money in the bank, jewellery and other valuables, real estate, boats, recreational vehicles and business interests. The term “personal representative” is used interchangeably with the executor (named as such in the will) and the administrator (appointed by the courts to administer the estate). This is the person who is responsible for a person`s estate after his or her death. As mentioned above, it is sometimes mandatory to have a legal representative, in other cases it is not. However, the use of a legal representative for your company has the following advantages: it is essential to ensure that the powers conferred on the legal representative are sufficient to enable him to perform his required professional functions and, on the other hand, are appropriately limited to minimise the risk.
A legal representative facilitates the purchase and sale in our country for companies that are not currently based in Spain. So choose your representatives based on the current circumstances, not what you think will happen later. Your documents can – and should – be updated throughout life. As mentioned at the beginning of this article, the designated legal representative for your company in Spain can be a legal entity such as a company or a commercial company. In such cases, a person should be appointed as the representative of that legal person, in accordance with Article 143 of the Spanish Commercial Registry Code and Article 212a of the Companies Code. The best way to prevent hurt feelings is to talk to your loved ones. This can be done in person or in a letter of instruction. Tell your family what you want if you need care in the future. Tell them who is responsible and why.
If it`s not a surprise in the middle of a family crisis, your care will go more smoothly and your loved ones will be more likely to work together and not give your legal representatives a hard time. For example, a legal representative may need to obtain the owner`s signature before selling business assets, or they may need written authorization to make bank transfers of more than $5,000 per day.