What is a Power of Attorney?

What is a Power of Attorney?

A Power of Attorney (POA) is a legal document that grants one or more persons the legal
authority to make decisions on your behalf and that the reason you wish to make a lasting power of attorney is that when you may not be able to make decisions for yourself, your attorneys can act on your behalf.

The importance and uses of a Power of Attorney include:

1. Incapacity Planning:
   Medical Decisions: If the donor becomes incapacitated and unable to make medical
   decisions, a healthcare POA allows the attorney to make those decisions on their behalf.

   Financial Management: A financial POA allows the attorney to manage the donor’s financial
   affairs if they are unable to do so due to illness, injury, or mental incapacity.

2. Convenience:

   Travel: If the donor is out of the country or otherwise unavailable, the attorney can handle important transactions, such as selling property, signing contracts, or managing business affairs.
   
   

3. Continuity:

   Ensures that important financial and healthcare decisions can continue to be made without
   interruption, even if the donor is unable to communicate their wishes.
   
   

4. Avoiding Guardianship:
   Having a Power of Attorney in place can avoid the need for court-appointed guardianship, which can be a lengthy and expensive process.

Uses of a Power of Attorney

1. Healthcare Decisions:

The attorney(s) can make medical decisions, access medical records, and ensure that the donor’s healthcare preferences are followed. This can include:

• staying in your own home and getting help and support from social services
• moving into residential care and finding a good care home
• day-to-day matters such as your diet, dress or daily routine
• giving or refusing consent to health care

2. Financial/Property decisions:

The attorney(s) can make financial/property decisions which can include the following:

• manage bank accounts such as opening, closing and using bank and building society
  accounts.
• claiming, receiving and using your benefits.
• pensions and allowances, paying your household.
• care and other bills.
• making or selling investments.
• buying or selling property.

A Power of Attorney is an essential tool for ensuring that an individual’s financial and

healthcare needs are met, even when they are unable to make decisions for themselves. It provides peace of mind, continuity, and convenience, making it a critical component of
comprehensive estate and incapacity planning.

If you would like further information, contact us on 02085696289.

Mackenzie & Co Solicitors