Power of Attorney is a legal document that says, “If I’m unable to take care of myself or manage my affairs, I permit this person to do so for me.”
The word attorney comes from an old French term meaning assign. In simple terms, you are assigning someone you trust, and you can choose more than one person, to look after your wellbeing, finances, or estate.
There are two types of Power of Attorney.
- Ordinary Power of Attorney is a temporary arrangement that lasts for as long as you specify. It is often used by people going into hospital for a short period or those living abroad who need someone to manage their property and finances in the UK.
- Lasting Power of Attorney is an ongoing arrangement that stays in place until you cancel it or pass away. There are two types: health and welfare, and property and financial affairs.
Many people assume Power of Attorney comes as part of a will, but they are separate legal documents. If you are getting your will prepared, it is worth speaking to your solicitor about arranging a Power of Attorney at the same time.
As with drafting a will, you must be over 18 and of sound mind when signing a Power of Attorney document. This is why everyone should consider putting a Power of Attorney in place. Once someone has become incapacitated, they can no longer assign a person to make decisions for them.
Even a spouse or partner has no automatic legal right to manage your healthcare or finances without one.
Why are people worried about getting a Power of Attorney?
It is interesting that many people feel more comfortable making a will than setting up a Power of Attorney.
Most of us accept that we will need a will one day, but the thought of becoming physically or mentally unable to look after ourselves can be far harder to face. As a result, many people put off arranging a Power of Attorney.
If you are considering one, you may have some understandable concerns.
You don’t want to feel powerless
Your independence matters, and you may worry that a Power of Attorney takes that away. You might imagine losing all say over your life and finances, but that is not how it works.
When you grant Power of Attorney, the decisions remain yours. It can last for as long or as little time as you want, and your legal provider will set this out clearly in the documents.
You also choose who acts on your behalf. It makes sense to appoint someone you trust completely, someone reliable and financially independent. No one can force, pressure, or persuade you into signing a Power of Attorney if you do not agree to it.
Without one, family members may need to apply for a Court of Protection Deputyship. This is a separate legal process that can give them authority to manage your affairs, but only if they can prove that you are no longer mentally capable of doing so yourself.
You’re worried about losing control
Giving up control is one of the biggest worries people have about Power of Attorney. It is natural to be concerned about relying on someone else, especially when you still want a say in your own affairs for as long as possible.
The good news is that different types of Power of Attorney cover different areas of your life, so you can choose how much control to hand over and when.
A health and welfare Power of Attorney allows someone to make decisions about your medical care if you are no longer able to do so. This can include speaking to doctors, choosing suitable care, and deciding where that care should be provided.
However, your attorney cannot demand a Do Not Resuscitate order or refuse life-saving treatment on your behalf unless you have specifically included that authority in the document.
A property and financial affairs Power of Attorney only allows someone to manage your finances and estate. You are also entitled to regular updates, so your attorney cannot simply make decisions in secret.
You may also choose to give immediate authority over your finances and property while you still have full mental capacity. That means someone can help with practical matters while you continue to manage other aspects of your life yourself.
For example, you may prefer to keep control of your money while allowing your family to support decisions about your medical treatment if needed.
If family members disagree about important matters, such as religion or medical choices, a Lasting Power of Attorney helps make sure your own wishes are followed rather than someone else’s.
You’ll never, ever need one because you’re invincible
Perhaps it is not that you believe you are indestructible, but simply that you do not like thinking about worst-case scenarios.
You may have put the idea to the back of your mind, assuming Power of Attorney is only something older people need. Many people dismiss it as something for much later in life.
But recent years have reminded us that life can change unexpectedly. That is why it makes sense to put important plans in place before they are urgently needed.
A Power of Attorney can be valuable at any age. It gives you peace of mind and can spare your loved ones extra stress if the unexpected happens.
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