There may come a time when, because you are incapable of managing your property and financial affairs, you will need someone to do this for you. You can formally appoint a friend, relative or professional to hold a power of attorney that will allow them to act on your behalf.
A power of attorney enables you to choose a person/ or persons (called an attorney) to deal with your property and affairs. Whereas a power of attorney ceases in the event of you becoming mentally incapable of managing your affairs in an enduring power of attorney will continue. It is important to remember that mental incapacity can happen to anyone at anytime eg by accident or through illness.
You can grant the power at any time provided you are over 18 years of age and mentally capable of understanding what an enduring power of attorney is.
You should seek legal advice as careful consideration should be given to the range of powers you wish to give your attorney.
No, you can limit the power to certain parts of your affairs, for example , you may wish them to handle your money but you might want to exclude the sale of your house from their power.
It takes effect as soon as the attorney signs unless you have included any conditions or restrictions about when the power should commence.
Yes, you can cancel or amend the enduring power of attorney at any time while you are mentally capable. For example if the attorney you have chosen dies or becomes incapable or no longer wishes to act on your behalf you will need to appoint a new attorney.
If your attorney(s) has reason in the future to believe that you are becoming mentally incapable of managing your affairs they will have to apply to the High Court (Office of Care and Protection) for registration of this power.
You will receive notification of the attorney's application to the court. The court may question the attorney's handling of your affairs and may cancel his power at any time if it is not satisfied that the attorney is acting in your best interests.
Any solicitor can provide advice and the office of care and protection can supply general guidance.
The Office of Care and Protection is located in the Royal Courts of Justice at the lower end of Chichester Street, central Belfast.
Pensions and retirement planning
