APower of Attorney gives someone else the authority to make decisions on your behalf and to look after your affairs. Most people assume that a Power of Attorney is only needed when you are old and unable to make your own decisions. Sadly, by then it may be too late.
”Having a Power of Attorney in place means you can be sure your affairs will be dealt with by someone you trust and will also lessen the burden on your loved ones dramatically.
Now is the time to at least consider a Power of Attorney. What if you are incapacitated by accident, stroke or other illness? Having a Power of Attorney in place means you can be sure your affairs will be dealt with by someone you trust and will also lessen the burden on your loved ones dramatically.
If you cannot manage your own affairs and you do not have a Power of Attorney in place, an application must then be made to the Court to have a Guardian appointed. This will lead to inevitable delay and much greater expense, both initially and over the long term. The costs of administering a Guardianship will be much greater than those under a Power of Attorney. You can protect the future now by making a Power of Attorney.
Continuing and Welfare Powers of Attorney
There are two principal types of Power of Attorney – a Welfare Power of Attorney and a Continuing Power of Attorney.
- A Welfare Power of Attorney allows your Attorney (who will normally be a relative or close family friend) to make decisions for your benefit, about your personal welfare and healthcare, if you can no longer make those decisions yourself.
- A Continuing Power of Attorney authorises your Attorney to look after your financial and business affairs. This can range from simple actions like operating a bank account to major decisions like selling a house. Our advice in most cases is to prepare a joint Welfare/Continuing Attorney at no extra expense. Once a Power of Attorney is granted, it has to be registered with the Office of the Public Guardian. As well as preparing the Power of Attorney, at Clark Boyle we also deal with the registration procedure for our clients.
Contact us at our offices at 33A Gordon Street, Glasgow G1 3PF, by telephone on 0141 227 2200 or use the contact button below for further information or to arrange an appointment.
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