Powers of Attorney
Granting a Power of Attorney (POA) gives your written authority to a person or persons you appoint (your Attorney) to look after your affairs should you become incapacitated or unable to act for yourself.
It provides peace of mind and clarifies that your affairs will be dealt with exactly as you would intend. Since none of us know what the future may hold, we strongly advise clients of all ages to consider a POA to ensure your life can be managed effectively if the need arises.
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Why a Power of Attorney is Essential
Maintain Control: A POA is the only legal document that allows someone you trust to take over the administration of your affairs if you became mentally or physically incapacitated due to illness or accident.
Avoid Financial Crisis: Many people assume their family can take over, but Banks and other financial institutions will not deal with anyone acting on your behalf unless a POA is in place or authority is given by the Court. Without a POA, your bank accounts could become inaccessible to your dependants, causing considerable financial hardship.
Prevent Costly Court Orders: If you became incapacitated without a POA, your family would have to apply to the Court for a Guardianship or Intervention Order—a process which can take up to a year and costs thousands of pounds. Arranging a POA now avoids this stressful and expensive legal exercise.
Not Just for the Elderly: While conditions leading to incapacity are often associated with older people, strokes or incapacitating accidents can occur at any age. A POA is a prudent measure regardless of your current age or health.
Understanding the Types of Powers
In Scotland, a modern Power of Attorney typically covers two distinct areas: financial and welfare.
Continuing (Financial) Power
This part of the POA deals with your money and property. It gives your Attorney the power to handle your bank accounts, pay bills, manage investments, and even sell your house if necessary. This power can be granted to take effect immediately or only once you become incapacitated.
Welfare Power
This part of the POA deals with your health and personal well-being. It gives your Attorney the authority to make decisions regarding your medical treatment, where you live, and the care you receive. Crucially, the Welfare Power can only be exercised if you have lost the capacity to make those decisions yourself.
The Role of the Attorney
Your Attorney is legally required to act in your best interests and to follow the principles of the Adults with Incapacity (Scotland) Act 2000. It is vital to choose someone who is reliable, trustworthy, and understands their responsibilities.
Arranging Your Power of Attorney
A Simple Process with Expert Guidance:
- Initial Consultation: We begin with a consultation (by phone, at our office, or at your home) to help you understand your options and clarify your wishes regarding your financial and welfare affairs.
- Document Drafting: We then prepare the appropriate legal documents for your signature, ensuring all aspects are correctly worded to meet the stringent requirements of Scottish law.
- Registration: We handle the final step of registering the documents on your behalf with the Office of the Public Guardian (Scotland), making them legally binding.
Once registered, your Attorney is formally authorised to deal with your finances and make welfare decisions if you become incapacitated.