Keep your finances and property in safe hands – Create a Power of Attorney

August 18, 2016 by admin · Leave a Comment 

What is a Power of Attorney?

A Power of Attorney, like a Will and an appointment of Enduring Guardian is a way of preparing and planning for the future. A Power of Attorney is a legal document appointing a person of your choice (attorney) to manage your financial and legal affairs while you are alive.

A Power of Attorney deals with property and financial matters. Your attorney can sign legally binding documents on your behalf.

Different types of Power of Attorney

There are two types of Power of Attorney:

  1. General Power of Attorney
  2. Enduring Power of Attorney

A General Power of Attorney is no longer effective if the person making the Power of Attorney (the principal) loses capacity. These are usually created for a specific purpose. For example, you might be travelling overseas and want to give your attorney access to your bank accounts to pay your bills or manage your finances.

An Enduring Power of Attorney continues to be effective even if the principal loses capacity after the Power of Attorney has been created. These are useful if you have an accident or become unwell and are unable to make decisions for yourself and cannot manage your financial affairs.

Appointing an attorney is different to appointing an Enduring Guardian. Your attorney does not manage your health, medical treatment and welfare.

How can we help?

Creating a Power of Attorney is an important part of planning for the future. This can be a confusing process without the help of a solicitor. We can:

  • Help you choose the right documents for your needs
  • Help you choose an appropriate person to appoint
  • Prepare the documents
  • Store your Power of Attorney in a secure safe

 

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