Act now to choose who would have the legal power to manage your financial affairs. Choose your attorneys or receiver » to give you peace of mind, before you cannot manage your finances, or express your wishes.
Powers of attorney » let you choose who you would like to have the legal power to deal with your money or property on your behalf.
Preparing an enduring or continuing power of attorney can give you and your loved ones peace of mind. It can protect your wishes if you would need assistance as a result of mental incapacity » illness, or injury.
In England, Wales, and Northern Ireland, enduring power of attorney (EPA) » allows you to choose who could manage your financial affairs.
In Scotland, the continuing power of attorney (CPA) » gives the authority to manage someone’s finances. The welfare power of attorney » allows the attorney to make welfare decisions. The welfare power of attorney may possibly give the attorney the authority to manage the vulnerable person’s financial affairs.
It is a good idea to consider preparing an advance directive, enduring or continuing power of attorney, and a will before moving to a care home. It is also a good idea not to choose care home owners or the staff providing your care as your attorneys.
The enduring and continuing powers of attorney allow the attorney to act on your behalf both before and after you become incapable of managing your affairs » These powers of attorney must be registered when the attorney first notices the donor or grantor showing signs of mental incapacity.
You can specify what matters your attorney(s) can handle by giving them either specific or wide-ranging powers. An enduring power of attorney does not give the attorney(s) control over your actions, only your finances.
When an attorney could benefit from their role or as a beneficiary in your will, consider choosing two attorneys who act jointly. Think about selecting one of the joint attorneys to be someone who will not benefit from your will.
Notify the authorities if you are concerned about an appointee » attorney, curator bonis » controller, guardian » or receiver » abusing their powers or restricting contact with family and friends.