Some popular misconceptions around a Power of Attorney
If I can’t make decisions for myself in the future, a family member will be able to do this for me.
Not so. Nobody has an automatic right to make decisions on your behalf if you can no longer do so yourself. In most cases, someone would have to go to court before they could act on your behalf.
I don’t want to sign a legal POA document as it won’t be personal to me.
Not so. The very reason why you get a POA is to communicate your wishes, no one else’s. The ‘powers’ written on the document should be completely tailored to you.
I have already named an Executor in my Will so they will be able to act for me.
Not so. Having a POA in place is just as important as a Will. However, a Will is only relevant after you have died and so an Executor can only step in when this has happened. An Executor would not be able to make any decisions on your behalf while you are still alive.
I have already told my family what I’d want if anything was to happen to me. They have said that they will make sure that my opinions are heard so I don’t need anything formal.
Not so. Even if the people that you trust the most are aware of what you would want, they will not be able to act on your behalf if you lose the ability to make decisions for yourself. You need to have a POA in place in advance.
I don’t own my house or have a large amount of money so I don’t need anyone to manage this on my behalf.
Not so. It is important for any person to get a POA - no matter what their circumstances are. If something happens in the future that causes you to become unable to handle your finances (such as payment of bills or benefit entitlements), someone would have to step in to do this on your behalf. POA allows for this to be the person you would want.
There is nobody in my family I could trust with the responsibility so I can’t get one.
Not so. Family members have no automatic right to be your Attorney and you should pick the person you trust most. For example, this could be a friend who you have known for a long time. You could also choose a solicitor or accountant, but they would charge a fee to act on your behalf.
Not so. Nobody has an automatic right to make decisions on your behalf if you can no longer do so yourself. In most cases, someone would have to go to court before they could act on your behalf.
I don’t want to sign a legal POA document as it won’t be personal to me.
Not so. The very reason why you get a POA is to communicate your wishes, no one else’s. The ‘powers’ written on the document should be completely tailored to you.
I have already named an Executor in my Will so they will be able to act for me.
Not so. Having a POA in place is just as important as a Will. However, a Will is only relevant after you have died and so an Executor can only step in when this has happened. An Executor would not be able to make any decisions on your behalf while you are still alive.
I have already told my family what I’d want if anything was to happen to me. They have said that they will make sure that my opinions are heard so I don’t need anything formal.
Not so. Even if the people that you trust the most are aware of what you would want, they will not be able to act on your behalf if you lose the ability to make decisions for yourself. You need to have a POA in place in advance.
I don’t own my house or have a large amount of money so I don’t need anyone to manage this on my behalf.
Not so. It is important for any person to get a POA - no matter what their circumstances are. If something happens in the future that causes you to become unable to handle your finances (such as payment of bills or benefit entitlements), someone would have to step in to do this on your behalf. POA allows for this to be the person you would want.
There is nobody in my family I could trust with the responsibility so I can’t get one.
Not so. Family members have no automatic right to be your Attorney and you should pick the person you trust most. For example, this could be a friend who you have known for a long time. You could also choose a solicitor or accountant, but they would charge a fee to act on your behalf.
