Power of Attorney
Powers of Attorney enable someone you trust i.e. a family member, friend or professional to manage your property, financial affairs and/or your health and welfare, should you become unable, mentally or physically to deal with such matters.
Beacon Wealth Legal can assist you with drawing up the documents, right through to registration. Alternatively, we can provide an advisory service.
There are different types of Powers of Attorney.
General/Specific Powers of Attorney
If you want to give someone full access to make decisions and take action on matters concerning your finances while you still have mental capacity, then this is called General/Specific Power of Attorney. This is only valid while you still have mental capacity and you can limit the amount of power they have so that they can only deal with certain assets.
Lasting Powers of Attorney
Lasting Powers of Attorney give someone the authority to make decisions on your behalf if you are unable to deal with matters personally, but can only be used once they have been registered with the Office of the Public Guardian in England and Wales. Beacon Wealth Legal can advise and deal with the entire process for you.
Please remember that Lasting Powers of Attorney must be made while you still have the requisite mental capacity, although they do not have to be used until required. They are a safety tool for you to have in place. There are two types of Lasting Powers of Attorney – one for Property and Financial affairs and one for Health and Welfare.
Property and Financial Affairs Power of Attorney
With this in place you can give your representative the power to make decisions about how money is spent and property is managed.
Health and Welfare Lasting Power of Attorney
Health and Welfare Lasting Powers of Attorney allows you to choose someone to make any or all decisions about your health and personal welfare should you no longer be able to do so.
Beacon Wealth Legal are experienced in dealing with Lasting Powers of Attorney and various other Powers of Attorney (Enduring Powers of Attorney and General/Specific Powers of Attorney) accordingly, please call us for assistance.