We are all used to making our own decisions. But what happens if you become unable to make decisions for yourself? Nobody plans for poor health or a serious accident to strike, that’s why no matter your age it’s vital to grant Power of Attorney. By instructing Friends Legal, you can be sure that the Power of Attorney is drafted in a way that reflects your wishes and will be suitable for your Attorney.
What is a Power of Attorney?
A Power of Attorney permits someone else to make decisions on your behalf if you’re unable to do so yourself. This can be decisions about your money and property – but it can also be about your health and welfare. The Attorney named in this document is given the authority to step into your shoes to make decisions, and so you should think carefully about who you choose. It should be someone you trust either a friend, relative or a solicitor.
Why do I need a Power of Attorney?
No-one can act on your behalf unless they have the legal authority to do so. They can get that authority through a Power of Attorney, and you can choose who acts for you. If you don’t have a POA, your friends or family will need to apply to the Court to obtain authority. It would then be the Court’s decision on who should be appointed, and the person appointed would likely have to apply every few years to renew this authority. If the need to act on your behalf happens suddenly, this can cause stress and anxiety, particularly if they’re reliant on accessing your bank account for important bills and living costs. An application to the Court can take several months and can be costly.
When do I need to draft a Power of Attorney?
Everyone should have a Power of Attorney drafted at the earliest opportunity. For most people the onset of incapacity comes gradually, but it can be sudden and unexpected for some. Incapacity can also strike at any age through illness or accident.
Types of Power of Attorney
There are two main types of Power of Attorney.
The first is known as a Continuing Power of Attorney and is the type needed to allow an Attorney to make decisions about your finances and property. You can choose for these powers to take effect as soon as the Power of Attorney is registered to allow your Attorney to assist you with financial decisions. You can also request that they only come into operation if you’re no longer able to make decisions for yourself.
A Welfare Power of Attorney is needed to grant the authority to someone to make decisions about your health and welfare. This only comes into operation if you’re no longer able to make decisions for yourself.
The same person can be named as your Attorney in both the Continuing Power of Attorney and the Welfare Power of Attorney.
Why use us?
The impact on your life with a Power of Attorney can be huge. It may become a permanent arrangement, particularly in old age. Even if it’s only needed temporarily, it’s a huge responsibility for your affairs being passed onto someone else to manage. While it can take pressure away from you and your family, and ensure the smooth running of your affairs while you’re incapacitated – there are potentially far-reaching implications. It’s necessary to ensure that your Attorneys have all the powers required to properly deal with your affairs. By instructing us, you can be sure that the POA is drafted in a way that reflects your wishes and will be suitable for your Attorney. We also provide guidance to your Attorney in exercising their powers and complying with their duties to you.
Pricing for Power of Attorney
|POA for couple
|POA & Standard Will
|POA & Standard Will for couples
|POA & Complex Will
|POA & Complex Will for couples
What Makes our Wills Standard?
Standard Wills are by no means worse than their more complex counterparts. Simply put, the complexity of your Will is determined by your family dynamic and the rough value of your estate. Standard Wills are suitable for unblended families, those with assets in Scotland, those who don’t need IHT advice or Trusts, and those who require less than 6 legacies. If not, a Complex Will is perhaps a better option. We’ll advise on what is best for you, with no no-obligation for you to continue with us.
For more information about our POA service, please contact our team, who will listen to your situation and recommend the best type of POA to protect you and your loved ones. We provide a wide variety of ways to contact the team and our opening hours span more than the usual 9-5 – so you can get in touch at a time and in a way that suits you.