Benefits Of POA - Farag & Co Lawyers
Why have a Enduring Power of Attorney :
There are a number of reasons appointing an attorney to make decisions regarding your financial affairs, has become increasingly important. They can make decision that you may otherwise lack capacity to make, which could give you some peace of mind knowing your appointing a person you trust will have your best interest at heart.
You can appoint an attorney and/or enduring guardian by completing and signing the relevant forms. Power of attorney document can be prepared at a solicitors office For an enduring document to come into play you will need these documents explained and signed off by a solicitor; otherwise, they may not be valid. A solicitor will need to explain the documents to both yourself to take effect.
With that said, here are 5 reasons why you should have a Solicitor prepare your Enduring Power of Attorney!
1. Deal with complex situations
It can be confusing to decide how much power to give your attorney or enduring guardian. A lawyer can draft a power of attorney and enduring guardianship document that addresses your specific needs. This means they can place limits on the powers given to an attorney or guardian, and ensure that it comes into effect at a certain time or for a set period.
2. Ensure your attorney has the right power
To appoint a power of attorney, or enduring guardian, it is important to ensure that the person you choose has the right powers. For example, a general power of attorney does not give an attorney the power to make decisions in relation to lifestyle or health, while an enduring guardian cannot make decisions relating to finances.
3. Protection
The decisions made by an attorney or enduring guardian will be legally binding, so involving a lawyer in the preparation of documents is important for your own protection. Ensure you are giving the right authority to the right person at the right time.
4. Meet witness requirements
Witness requirements will be necessary for some documents and a lawyer can make this process simple and quick. A lawyer is among the list of authorised witnesses and can ensure your power of attorney or enduring guardianship meets all witness requirements.
5. Ensure all documents are valid
There is no room for mistakes when it comes to legal documents. Ensure your power of attorney or enduring guardianship is valid when it counts. A power of attorney or enduring guardianship that is deemed invalid could be distressing and costly for family members at a time when it is needed.
It is an important document, book in a free appointment today at Farag & Co Lawyers to have an obligation free chat about why it may be important for you to have an Enduring Power of Attorney!
