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Power of Attorneys
A Power of Attorney is a legal document that enables you (the Donor) to appoint an individual or individuals, whom you trust, as your Attorney, so that they can manage your financial affairs when you are no longer able to do so. This may be because you do not wish to, or because you are suffering from physical or mental incapacity. Your Attorney will then have the legal authority to pay your bills, manage your income and capital and generally look after your money and property on your behalf. This extends even to the power to sell your property.
The most common Power of Attorney is a Lasting Power of Attorney (LPA) which can operate while you still have mental capacity and also continues if you become mentally incapable of dealing with your own affairs. It confers legal authority on your Attorney to manage your financial matters. It does not, however, extend to making decisions about healthcare issues, but these can now be dealt with separately under a Lasting Power of Attorney (Personal Welfare).
A Power of Attorney ceases upon death when your Will then comes into effect. Powers of Attorney can give general authority to your Attorney(s) to act in relation to all your financial affairs or they can be restricted to relate to only particular areas.
Please contact us for more information or to arrange an appointment.
Related Links
You may need a LPA in order to sell someone's house on their behalf. Please visit our Sell Your House conveyancing section for more information.
When making an LPA you should always think about making a will. Click here for more information on Making a will.