Parents tips for Powers of Attorney
21 May 2014
We’ve all heard the term ‘putting your affairs in order’ and as a parent of young children it is something I personally take very seriously. Making sure that my will is in place and that my children will be taken care of if any thing happens to me.
Not everyone thinks ahead to the possibility that their health may deteriorate and leave their family amidst the anguish of trying to care for them and making important decisions about your financial matters or your welfare.
By putting in place a ‘Power of Attorney’ now you could help to protect your loved ones from arguments, stress and uncertainty.
The Top 5 things to know about ‘Powers of Attorney’ should help:
1. The sooner the better – You don’t need to be old.
2. Financial & Property – What if you cannot manage your affairs?
3. Continuing Powers can take Immediate Effect (if you like) or when incapacity begins
4. Welfare Powers – To outline your wishes for when your Physical or mental well being deteriorates.
5. Take the pressure OFF your family.
A Power of Attorney empowers a relative or other trusted person to act in your place and make decisions on your healthcare and/or your financial arrangements. There are a few different types of Powers of Attorney.
The granting of Powers relating to your financial and property affairs is known as "Continuing Powers". Continuing Powers can be set up to take effect immediately or when incapacity begins.
The granting of Powers relating to your physical and mental wellbeing is known as “Welfare Powers”. Welfare Powers cannot be exercised until such time as the capacity to make your own decisions has been lost.
A Power of Attorney document should contain either Continuing Powers, Welfare Powers or like for most a combination of both. At Inksters, we can advise you on all aspects of creating a Powers of Attorney.
We can draft a Power of Attorney for you. Once you have signed your Powers, as part of Inksters service we complete the paperwork required for registration with the Office of the Public Guardian. This ensures your arrangements are protected so that should the need ever arise , your attorney is able to step into your shoes with minimal complications.
This means you receive the assistance you require when you need it most, and your relatives are spared the expense and legal challenges which otherwise could interfere with their attempts to do best by you.
If you would like to discuss making a Power of Attorney then please contact The Team at Inksters where one of our solicitors will be happy to answer any of your questions and help you set the ball rolling. CALL 0141 229 0880 or email info@inksters.com Tell them Legal Eagle sent you.
Michelle.L Hynes
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