26 February, 2020 by Grant Robinson
Who would you trust?
Everyone likes to think that the worst would never happen to them, that they will always be in control. Unfortunately for some this is just not the reality and for those who have not prepared in advance for this it can have devastating effects on their families.
If in the event you ever lost the mental capacity to handle your financial affairs have you prepared for someone to take your place to make your decisions?
Are you even aware that this can be done?
In Northern Ireland this protection is offered by way of an Enduring Power of Attorney. What this document offers is the control and security of knowing that if you ever lost mental capacity that you have appointed someone you trust to make the best financial decisions on your behalf.
An Enduring Power of Attorney can only be signed when a person has the capacity to understand the document and why they are signing it. Once someone has lost mental capacity it is too late and their families will have to go through the alternative route of appointing a Controller on their behalf, this process is longer, more expensive and you could end up with a Controller that you would not have ultimately chosen yourself.
Putting an Enduring Power of Attorney in place is a straightforward process. You simply need yourself and whomever you wish to appoint as your Attorney to sign the document in the presence of a witness. You can appoint more than one Attorney if you wish.
The Enduring Power of Attorney can be reviewed and amended just like your Will and if it’s never needed then at least you can be assured that you took the precaution. Forwarding planning in matters such as your finances can help assist a family at a time when life is chaotic enough.
Hunt Solicitors offer free initial consultations to discuss your Enduring Powers of Attorney in more detail and to answer any questions you may have on the process.
Hunt Solicitors are located at 77 High Street, Holywood, County Down, BT18 9AQ or phone us for an appointment on 028 90 428 600.
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