Powers Of Attorney

The Inevitable!

We will all get older - that is inevitable. It may be difficult to imagine how we will manage, how we will be able to get out and about and how we will cope being dependent on others. It may be relatively easy to accept that there may come a time when you will physically have to rely on friends and family but few people want to contemplate being unable to manage their financial affairs. It therefore seems only sensible to at least prepare for that possibility even though it may never come!

What can be done?

You should consider appointing someone you trust to manage your affairs if you become unable to do so in the future - and you should do it now! You will then at least have the security of knowing that everything will be taken care of, by someone you choose, if you become unable to manage.

How can this be done?

By giving someone a Power of Attorney over your affairs. This will probably be a Lasting Power of Attorney (EPA) since an ordinary general power of attorney will lapse if the Donor of that power (i.e. you) becomes mentally incapable of dealing with his or her affairs.

Who should be appointed and how many?

Most people appoint their spouse, partner or children to act. Alternatively you could appoint a solicitor or trusted friend. You can appoint several people to act as your attorneys, although most people usually choose one or two. If you appoint two people you can require that they must act jointly, or provide that they may act individually.

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The articles on legal topics published in these pages are for interest only and are necessarily general in their terms. You should not act (or refrain from acting) on the basis of the information given without specific advice, as the principles and laws concerned may change, and their application will vary according to the particular circumstances.