Powers of Attorney
Powers of attorney are created by all different kinds of people for all different reasons. Choosing the most suitable vehicle for you depends on what you want the power of attorney for, and how long you want it to last.
A general power of attorney will allow you to appoint a person you trust to deal with your property and finances while you are unable. For example if you were going on an extended holiday or working away from home for a period of time. A general power of attorney is only effective for the 12 months following the date on which it was created and it will become void once you lose the mental capacity to understand that the power is being used.
A Lasting Power of Attorney for Property and Financial Affairs does exactly what its name suggests. It is a more complex document to prepare but it will last until it is either revoked by you or you die. It continues to have effect even if you lose the mental capacity to understand that it is being used. This document will only allow your chosen attorney to make decisions about your property and financial affairs and not personal decisions about your care.
Similarly the Lasting Power of Attorney for Health and Welfare is fairly well described in its title. The Health and Welfare Lasting Power of Attorney is an equally complex document to prepare but again it will last until it is revoked by you or you die. Again the document will continue to have effect even if you lose the mental capacity to understand that it is being used. In contrast to the above, this document will only allow your chosen attorney to make decisions about your health and welfare and not decisions about your property and financial affairs.
“The best way to find out if you can trust somebody is to trust them.” Ernest Hemingway
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