Granting a Lasting Power of Attorney means that others can act in your best interests, should you no longer have the ability to make decisions yourself. There are many reasons why this might occur but an agreement is a good precaution to take while you are able to do this, so what are the 7 factors to consider when choosing an Attorney?
1. What restrictions are there to being an attorney for someone?
The individual has to be over the age of 18 and has to be able to make decisions. If they are bankrupt then they are unlikely to be able to be an Attorney. It is also possible to have more than one Attorney, and you can also pay a professional to take care of it too.
2. Is it a good idea to discuss your wishes with your Attorney?
Yes. Prior to asking someone to be your Attorney, it is important to have a conversation with them to outline your requirements and wishes, as well as your preferences, so they can act as you want them to. If there is more than one Attorney, then this could also help to determine how their responsibilities would be split.
3. Can you write in specific instructions for your Attorney?
Yes. You may wish to add specific instructions contained within the Power of Attorney agreement and your attorney will have a responsibility to follow these. An attorney should help you to make your own decisions on your own as much as possible and when they do make decisions, they should do so in your best interests. They have to make sure they respect your civil and human rights throughout.
4. Can attorneys take responsibilities they have not been asked to?
No. It is only possible to act as an Attorney for those matters that they have been asked to deal with. There are two different types of Power of Attorney, these are Health & Welfare and Property & Affairs. Therefore, if only one Power of Attorney has been set up to deal with one of these areas, the Attorney cannot get involved in the other. Additionally, you can also put limits on the amount of power that your Attorney has within each type. As an example, you might want your Attorney to manage your bank accounts but not have the ability to sell your property. This should be clearly added to any agreement.
5. Can an attorney delegate their responsibilities?
No. Your Attorney will have sole responsibility and cannot delegate their power to others.
6. Does an attorney have to keep records?
Yes. When you give someone the responsibility of handling your financial affairs then they must make sure that they manage them individually and keep records of everything. This is important as it is proof that they are doing and what is asked of them. Where they need to provide signatures, they should use their own but clearly state that they are doing so on behalf of you, the donor.
7. Can institutions check on an attorney?
Yes. Institutions such as banks will need to have a record of the Power of Attorney in order to recognise that the Attorney has the authority to act on behalf of the donor. The Attorney must remain compliant as The Office of the Public Guardian has the ability to check and investigate should they believe that something is not right.
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