Do you need Power of Attorney in right place now?

Do you need Power of Attorney in place now?  Can’t wait 8-10 weeks for your Lasting Power of Attorneys to come back from the Court registered?

If you’re a vulnerable adult, self-isolating and anxious about going but have things to get done, have you considered setting up a General Power of Attorney?

What is a General Power of Attorney?

A General Power of Attorney is a statutory form authorising someone to act on your behalf and in your name with regard to your property and financial affairs; it can only be used while you are mentally capable.

When can a General Power of Attorney be used?

Often used if you’re likely to be out of the Country for some time, or are facing an operation and long period of recovery, but why not use it during this dreadful period of the Coronavirus?  It can be restricted to specific matters or steps or limited to a single use.  It does not need to be registered (like a Lasting Power of Attorney) and can be used immediately.

An Attorney cannot sign a Will on your behalf, take action concerning your marriage or delegate their Power to someone else.

When does it end, and can it be revoked?

Powers can be revoked orally, but to avoid misunderstanding it’s wise to write ‘cancelled’ on the original GPOA form or simply tear it up. The General Power would also be revoked if you or the Attorney died or become bankrupt.

Do you need a lawyer to get a power of attorney?

While you don’t have to hire a lawyer to write a durable power of attorney, an estate planning lawyer can simplify the process, explain the options and features, and tell you how to use it.

How is a General Power of Attorney different to Lasting Power of Attorneys?

A Lasting Power of Attorney (either Property & Finance or Health & Welfare) is used longer term to cover the future possibility of either physical incapacity (broken your hip) and/or mental incapacity (like Dementia).  It is important to note that these documents MUST be setup before the incapacity arises.

Should you need to pass control to someone else after mental capacity has been lost then a “Deputyship” is required and this is a far more complicated process to go through than a Lasting Power of Attorney, they take longer to set up and are significantly more expensive.

If you have no assets and only State Benefits, then an “Appointeeship” can be established.

For further help and advice concerning a Will, a TrustPower of Attorney or Probate please contact us.

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