What is a Power of Attorney?
As we grow older many of us worry about our financial affairs, and how we can manage them if we become too old, or become incapacitated due to illness or an accident. Therefore, it is just as important to make arrangements to take care of this situation if it arises. Just like a Will this can easily be done using a legal document called Power of Attorney. However, this must be done whilst you are still fit and healthy, so it makes sense to arrange for this to be done at the same time as you make your will.
- It is used to appoint and authorise a person, or persons (An Attorney) of your choice to deal with your affairs on your behalf
- It usually comes into force if and when you are unable to direct your own affairs
- It can cover just about all your affairs or it can be restricted to certain things only
- A husband or wife can appoint each other if they so wish