Private Estates
19 July 2023
Think. Think about your Will
These may not quite be the words of Aretha Franklin’s famous “Think” but the sentiment rings true. At the moment,...
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When you are not able to make decisions for yourself, it is sensible to leave that to someone you trust to make decisions that will be of the most benefit to you.
What is a Power of Attorney?
A Power of Attorney is a legal document which authorises someone else to act or make decisions on your behalf in the event that you become incapable of dealing with your own affairs. It helps to ensure that decisions made on your behalf reflect your wishes.
The Power of Attorney can deal with financial and/or welfare issues if you become incapable of making your own decisions. Even if someone is in good health now, they may want to set up a Power of Attorney now as a sensible precaution for the future.
Suppose an elderly relative becomes incapacitated and incapable of managing their own affairs. Relatives may resort to costly and time-consuming court proceedings to obtain the authority to deal with their estate. However, with a Power of Attorney in place, you can easily avoid this situation.
Why do you need one?
Consider how many decisions we make every day. What and when to eat, what to wear, what to spend, and where to go. When you think of it, we make hundreds of decisions every day!
Some decisions are more consequential than others. While we can’t control every outcome, being able to make our own decisions means that we can live our lives on our own terms.
However, unforeseen circumstances do occur. What happens if we are in an accident and are rendered incapable of making everyday decisions? How do you ensure that someone you trust is in charge of your affairs? Will they be aware of your desires? Will they have the legal authority to manage your finances and make decisions for you? These are the kinds of questions that a Power of Attorney can allow you to determine.
What of my next-of-kin’s rights?
A common misconception is that we don’t need a Power of Attorney if you have an identifiable next-of-kin. In actuality, your next of kin has no automatic right to assume control of your affairs if you were to lose the capacity to make your own decisions.
Without a Power of Attorney, an application to the court for a ‘Guardianship Order’ would need to be made by someone before they can act on your behalf. This is a time-consuming and costly process. In the meantime, you might face severe difficulties in your daily life.
Everything you need to know in one helpful guide
Scullion LAW has put together a helpful guide for your Power of Attorney needs. Peace of mind is possible by writing a Power of Attorney with us. Book a video/telephone consultation here.
