Power of Attorney Services from Tiverton
What is Power of Attorney?
A Power of Attorney is a legal document that allows someone to give another person the authority to make decisions on their behalf. This can be helpful if the donor becomes unable to make decisions themselves due to illness or injury. They can be temporary or permanent.
As people get older understandably they often want to allow children or friends to help them deal with an increasingly complicated and confusing world. A power of attorney is a way of allowing a third party (such as children or a trusted friend or relative) to take on the responsibility for dealing with your affairs when you no longer feel able to do so yourself.
Power of Attorney is also a powerful business tool where there may be two or more partners. It can allow businesses to continue seamlessly if the unexpected happens to one business partner.
We are sensibly priced and we aim to give a comprehensive personal service. We like to demystify the law and allow our clients to understand what is going on and what they are being asked to do or agree to. Is power of attorney right for your circumstances? Call us today to talk it through.
Types of Power of Attorney
Health and Welfare
Lasting Power of Attorney
Health and Welfare Lasting Power of Attorney covers decisions about medical care, daily routines, and even life-sustaining treatment. A common example would be when someone develops dementia and can no longer make decisions about their care. In this case, their attorney can decide on their behalf, such as choosing a suitable care home or consenting to medical treatment.
Ordinary Power of Attorney
Ordinary Power of Attorney is a temporary arrangement that allows the attorney to manage financial matters while the donor still has mental capacity. It is often used for short-term situations. For example, if someone is travelling abroad for an extended period, they might grant an Ordinary Power of Attorney to a trusted person to manage their finances, such as paying rent or handling investments while they are away.
Property and Financial Affairs
Lasting Power of Attorney
Property and Financial Affairs Lasting Power of Attorney allows the attorney to manage finances, such as paying bills, managing bank accounts, or selling property. If someone becomes unwell and is unable to handle their financial affairs, this type of power of attorney ensures that their bills are paid and their property is maintained.
Enduring Power of Attorney
Although Enduring Power of Attorneys (EPAs) were replaced by Lasting Power of Attorneys in 2007, they are still valid if created before that date. EPAs only cover property and financial affairs and come into effect if the donor loses mental capacity. For example, if someone created an EPA before 2007 and later develops a condition like Alzheimer's, their attorney can step in to manage their financial matters, such as accessing bank accounts or selling property to fund care.
