Why Is It Important To Have A Power Of Attorney?

• Published date: 22 April 2021
• Subject Matter: Law Practice Management, Strategic Planning
• Law Firm: Keebles
• Author: Ms Michele Wightman

Having one in place does not mean that you lose the power to make your own decisions - it is simply there when required if you lose the mental capacity to handle your affairs in the future.

It is hugely important to have a Power of Attorney in place for a number of reasons. Firstly, once you reach the point where you fear you are losing mental capacity, setting up a Power of Attorney at that point becomes more difficult because the Court of Protection may not accept it for a lack of capacity. This means your family would have to apply to the Court for a Deputyship order to handle your affairs, which can also be a long and expensive process. You can avoid all the upset that situation would cause by setting up a Power of Attorney well in advance.

Secondly, failing to set up a Power of Attorney could mean that your family is at the discretion of the authorities when trying to arrange care for you if you become ill. Family members with Power of Attorney...