A power of attorney is a legal document that is designed to convey your wishes should the time come when you are unable to make decisions for yourself. The document allows you to designate a person to make decisions on your behalf. If you are looking for probate solicitors & lawyers in Barnet, the solicitors at SCL Wills and Probate can help with all aspects of wills and estate planning.
Our estate planning solicitor in Barnet offer comprehensive estate planning and will writing services to help clients plan for any possible future. A power of attorney is an important part of the estate planning process. It is not possible to predict what will happen in the future. Having a power of attorney in place provides peace of mind for you and your family.
If there is no power of attorney in place, family members are left to try to figure out what you would want and how you would want your financial affairs to be handled. This can lead to confusion and conflict among family members about who should be making decisions about your money and property. Your family member may have to apply for deputyship with the Court of Protection.
Two Power of Attorney Options
There are two options for a power of attorney. One is for health and welfare and the other is for property and financial affairs. The health and welfare power of attorney names a person that will make decisions regarding your medical care and personal welfare, should you become lose your mental abilities and find that you are incapacitated and unable to make those decisions on your own.
The other type of power of attorney covers property and financial affairs. This document designates appoints the person who will be responsible for making decisions regarding financial matters. This includes paying your bills, handling money, selling property, and other financial decisions. Our solicitors can provide guidance and assistance in applying for a power of attorney in Barnet for both types of documents.
You may be wondering if you need one type or both options. This is a common question and the answer depends on several factors. Since it is impossible to know what will happen with health and mental capacity in the future, it is generally a good idea to have a plan in place or your own health and welfare. If you have money or own property, you may want to make sure there is someone to make those decisions, should you be unable to handle your finances in the future.
If you decide to have a power of attorney for health and welfare, as well as a document to cover your property and financial affairs, you can name one person for both or separate people for each power of attorney. When choosing a person to handle your affairs, there are many factors to consider. Often, it can be a good idea to have different people for each power of attorney. For example, you may have people in your life with different talents or knowledge in regards to healthcare or financial affairs and choose to appoint people based on their knowledge and strengths.
Contact SCL Wills and Probate to learn more about the advantages of having a power of attorney in place. Our solicitors can answer your questions about both types of documents and help you plan for any possible future.