Why do I need a Power of Attorney?
There are many situations in which you might need to give someone else the authority to act on your behalf. For example, if you are going overseas and need someone to manage your financial affairs in your absence, or if you are unable to make decisions for yourself due to ill health.
A POA can be a useful way of ensuring that your affairs are taken care of in the way you want, even if you are not able to do so yourself.
What should I include in a Power of Attorney?
A POA should set out:
– The name and contact details of the person you are appointing as your attorney (known as the “principal”)
– The powers you are giving to your attorney
– Any limitations or conditions on those powers
– How long the POA will remain in force
– Your signature and the date of the document
You should also have the document witnessed by a solicitor or notary public.