Why some People Worry About Power of Attorney

It’s ok to worry about getting a Power of Attorney. But, with different Power of Attorney options open to you, the chances are that nagging doubt keeping you awake at night isn’t a problem.

So, What is Power of Attorney?

A power of Attorney is a legal document that dictates, ‘When I’m unable to take care of myself or my affairs, I permit this person to manage these for me.’

Attorney being an old French word for assign. You’re literally assigning someone (you can choose more than one person) to look after you, your finances, or your estate.

You’ll come across two main types  of Powers Of Attorney

• Ordinary Power of Attorney – a temporary order that lasts as long as you say. It’s usually used by those going into hospital for a short time or those staying abroad who need someone to manage their property and finances here in the UK.

• Lasting Power of Attorney – an ongoing Power of Attorney that stays in place until you stop the order or pass away. Lasting Power of Attorney comes in two flavours: ‘health and welfare and ‘property and financial’.

Many believe a Power of Attorney is part of a will—however, they’re two separate legal documents. If you’re getting your will done, speak to us about assigning a Power of Attorney at the same time.

As with drafting a will, you must be over 18 and ‘of sound mind’ when signing a Power of Attorney document. This is why everyone needs a Power of Attorney in place – you can’t assign someone to look after you, your money, or your home after being incapacitated.

Even your partner or spouse has no legal right to manage your healthcare or finances without one.

Why are some people worried about getting a Power of Attorney?

It’s curious that people are much more relaxed about getting a will than a Power of Attorney.

We all know we’re all going to pop our clogs sometime, so a will makes sense. But the idea of growing older and mentally and physically incapable of looking after ourselves fills us with dread, so we end up putting off a Power of Attorney document.

If you’re looking into Power of Attorney, you might have a few understandable fears about committing to one.  

• You don’t want to feel powerless.

Your independence is important to you – and you’re worried a Power of Attorney document does away with all that. Before you know it, you’ve been shoved into a care home and your kids and spending all your money (ok, maybe not quite so drastic!).

When granting Power Of Attorney to someone, the decisions are yours. It lasts as long (or as little) as you’d like, and this timeline will be detailed in any documents drawn up by your legal provider.

You choose who will act on your behalf. So, it’s best to assign someone you completely trust and rely on and who’s financially independent. If you disagree, you can’t be forced, coerced, or encouraged to sign a Power of Attorney document.

Families can apply for a Court of Protection Deputyship, which is a bit like a Power of Attorney after the event, giving them the legal right to manage your affairs. However, they’d need to prove you’re mentally incapable of looking after yourself before this is granted.

You’re worried about losing control.

Giving up control is probably one of the scariest aspects of Power of Attorney. It’s only natural to be worried about being left to other’s whims, and often just as frustrating – after all, unless the worst happens, you’d like to maintain some degree of power over your affairs.

With different types of Power of Attorney available, covering various areas of life, you can relinquish or retain as much control as necessary.

A ‘Health and Welfare’ Power of Attorney grants someone the power to make medical decisions on your behalf when you no longer can. This includes chatting with your doctor, selecting the appropriate healthcare, and where you should receive it.

Your attorney, however, won’t be able to demand a ‘Do Not Resuscitate’ order or stop you from undergoing life-saving treatment unless you include it in the Power of Attorney document.

A ‘Property and Financial’ Power of Attorney only has the right to manage your estate and financial affairs. And you’re legally entitled to receive regular updates on your financial situation. So, your attorney can’t hide all your money when you’re not looking.

You may also grant immediate Power of Attorney over your finances and properties. This lets them take control even while still mentally capable. The choice is yours.

That way, you could continue managing your money, for instance, while letting your family worry about ensuring you get the proper treatment at the hospital.

If there’s division in the family – for example, you have different religious beliefs to your children – a Lasting Power of Attorney will ensure your wishes are carried out. Not the wishes of others.

• You’ll never, ever need one because you’re invincible

Maybe it’s not so much that you think you’re immortal, but you certainly don’t like to overthink about what waits for us all (and we’re not talking about taxes).

You might’ve pushed it to the back of your mind until now. Now, you’re wondering whether a Power of Attorney is essential. You might’ve even dismissed a Power of Attorney as ‘something for the terminally ancient’.

But the recent pandemic has shown us that we never really know what’s around the corner. That means facing up to the fact that there are a few bits and bobs we need to get in order, just in case the worst happens.

A Power of Attorney is essential, regardless of age. It guarantees peace of mind for you and less stress for your loved ones.