Who Needs Power of Attorney?
When considering the future people often think of making a will or putting in place a funeral plan. But often what is more important is to consider how your affairs can be managed while you’re still here.
If you were to suffer from an illness which left you physically or mentally impaired how would those closest to you be able to manage your finances and make decisions for you?
Where a person is suffering from a physical illness which prevents them from carrying out day to day tasks such as going to the bank, signing forms or paying bills for example, a power of attorney can allow them to appoint someone to carry out those tasks on their behalf.
If suffering from a mental illness which prevents you from managing your own affairs having a power of attorney already in place would allow your attorneys to manage your finances on your behalf and make financial decisions for you. Without this document those close to you would need to apply to the court for power to manage your finances and this can be an expensive and lengthy procedure. In the meantime no one would have access to your finances which can cause great difficulty and stress for those close to you.
Powers of attorney in relation to your health and welfare can also be prepared in case you were unable to make decisions yourself in relation to matters such as medical treatment or care for example.
We advise putting a power of attorney in place while you are still fit and well to make sure your finances can be managed immediately and by the people or person you have chosen yourself.
When considering who to appoint as an attorney it is important to choose someone who is both capable and willing to act and who you trust to act for you and in your best interests.
Jennifer Melly Law can advise you on all aspects of preparing and acting under a power of attorney.