power of attorney
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The term power of attorney refers to the content of the document that authorizes a person to act on behalf of another, usually a solicitor for their client.
Power of Attorney is usually set up for a period of time when the client cannot deal with their affairs for any reason from illness to going abroad and enables the solicitor to act as the Donor, signing cheques, buying and selling shares and any property dealings. After the period id over power reverts back to the Donor. Donor, is a term for the client.
should a Donor be diagnosed with any condition that is going to leave them mentally incapacitated then a special document that will enable their solicitor to act for them can be drawn up in the event that the Donor is no longer able to manage their affairs. An Enduring power of attorney takes effect whenever the Donor asks the solicitor to act for them and then becomes valid for the solicitior to take full power once the Donor is no longer sound of mind. The loss of mental capacity must be registered and when the solicitor believes the Donor to be no longer able to deal with their affairs, he or she must apply through the courts for the Enduring power of attorney to take effect.
If you wish to learn more about power of attorney either for yourself or another simply get in touch by telephone, fax or email and one of our specialist solicitors can advise you on the best course of action to take.