Do you need to give someone else authority to manage your affairs when you’re not available to do so? If so Powers of Attorney can assist with this issue.
An ordinary power of attorney is a legal document authorising one or more people to handle your financial affairs. It’s only valid while you still have mental capacity to make your own decisions. You may want to set one up if, for example:
- you need someone to act for you for a temporary period, such as while you’re on holiday
- you wish someone to act for you only while you’re able to supervise their actions.
A power of attorney gives the attorney (the person you choose to act for you) a legal document that proves their powers.
It’s up to you to decide what the power of attorney covers. It can be a general power, without restrictions, or give limited powers only to do a specific task, for example to sell a house. In either case, you can still also act for yourself. An ordinary power of attorney is only valid while you are capable of giving instructions
If you want someone to be able to act for you when you lose capacity to make your own decisions, you should consider a lasting power of attorney rather than an ordinary power of attorney.
Contact a member of our specialist team at our Newcastle or South Shields office for further information.