Power of Attorney is the authority to act legally for another person. The Power of Attorney can be given for a single very specific task, such as writing cheques on a single bank account, or it can cover all your affairs.

Why should you consider doing this?
It may be just as a matter of convenience, because you want someone else to deal with matters. Possibly you are going abroad. The most important consideration, though, is if you become ill or incapacitated in the future. If someone is mentally incapable, they cannot deal with any financial matters, such as pensions, paying bills, investments, tax, and bank accounts. In severe cases, their assets could not be touched and would be "frozen". This is quite a common procedure. At Close Thornton we are very experienced in looking after money in cases like these, but it is very cumbersome and involves a lot of legal and accounting technicalities. It can also be very expensive.

How do you give someone Power of Attorney?
To grant someone Power of Attorney you must sign a written document that states to whom you wish to grant authority to handle your affairs. Making a Power of Attorney is a simple and inexpensive process, which can be completed very quickly. Because of the technical requirements of the enduring Power of Attorney regulations, you should seek professional advice from our experienced solicitors at Close Thornton who are able to draw up the necessary legal documents.

Who should be an Attorney?
With a Power of Attorney you can choose your Attorney. In some cases the people appointed as Attorneys are Solicitors, but this is not essential. The advantage with a solicitor is independence, reliability and expertise in dealing with everything. At Close Thornton, we act as Attorney for hundreds of our clients, and many of them have signed a Power of Attorney to be "kept in the drawer" against the day when it might be needed.

What other effects does it have?
A Power of Attorney takes nothing away from your own right to deal with your own money. It merely gives similar rights to another person. The Attorney will bind you by his or her actions, and must give you full details of all he or she does for you. The Power may be withdrawn at any time in writing. You may, by a separate instruction, require that it may be used only on your instructions or on you subsequently becoming mentally incapable. In that event, a medical certificate may be required.

A Power of Attorney has to be entered into carefully. For further advice please contact us on 01325 376908 to arrange an appointment or contact us using the e-mail links below.

Contact
David Hogg - E-mail
Iain Robson - E-mail

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