Powers of Attorney and Guardianship
So you keep control of your assets when you can’t look after them yourself
If you were unable to handle your own financial affairs because of something like illness, a car accident or travel overseas you would need to appoint a trusted person who could act for you.
What is a Power of Attorney?
This is a document which allows someone else to look after your financial affairs and to act on your behalf. The powers can be general, ongoing or only for a specific task or time.
For example, if you are abroad during the time your house is on the market, your Power of Attorney would detail your instructions and allow the appointed person to handle the sale.
Another example would be for a couple to give each other Power of Attorney in case one becomes very ill or incapacitated for some reason (e.g. mental illness like dementia).
The person you appoint may be a member of your family, a trusted friend or someone like your solicitor. However, you may also change or cancel your Power of Attorney at anytime.
Your Attorney has the same powers as you over your assets and money so it is very important that your Power of Attorney is carefully prepared so your attorney can do what you intend them to do.
We would be happy to advise you about preparing a Power of Attorney.