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In life, things change over time. That means you must be able to change arrangements you make from time to time. When you take the steps to grant a Power of Attorney, you consider the circumstances you face at that moment in time. What happens, however, if circumstances change? This article considers how you can change a Power of Attorney in Scotland.
People suffering from dementia eventually lose the ability to look after their own affairs. This is often tragic with parents not recognising children and, frequently, recounting memories long past but unable to tell you what happened yesterday. To increase awareness, the Alzheimer’s Society runs a campaign each year to raise awareness of this most invasive condition.
Planning for the future means different things to different people. To some, it will be as straightforward as what to see at the cinema this week. To others, it might be planning for this year’s family holiday. Some might plan to move house this year and others might be planning to move job. However, what everyone should be thinking about is planning for the unexpected. There can be nothing more unexpected than an illness, accident or other incapacity that renders you unable to look after your own affairs. That’s where a Power of Attorney comes into play. But is there a “right age” to draw up a Power of Attorney?
Power of Attorney (“POA”) is a legal document which appoints one or more people (known as attorneys) to take actions or make decisions on your behalf. You must be over the age of 16 and capable of making your own decisions to be able to grant a POA in Scotland. In England, you must be over the age of 18 to put in place a POA. Individuals can choose to grant POAs for continuing (financial) and/or welfare matters, often combining the two into one deed. A similar regime operates in England and Wales, whereby POAs are known as Lasting Powers of Attorneys (“LPAs”) and individuals can appoint attorneys to act in relation to their financial and/or health affairs.
A properly drafted Power of Attorney allows you to make provision in advance for the possibility that, at some stage, you require somebody else to deal with your financial or welfare affairs. However, it is important to understand what powers an attorney has under a Power of Attorney, and their limitations.
