Private Client

Power of Attorney

It may come about whether through accident illness or simply the ageing process that you are no longer able to look after your own financial affairs and will need someone, to a greater or lesser extent, to deal with them for you. That someone is called an "Attorney" and would be appointed by a Power of Attorney made by you.

Until now, the Power of Attorney would usually have been an "Enduring Power Of Attorney" but as from October 2007 and following the implementation of the Mental Capacity Act 2005, a new Power of Attorney is used - Lasting Power of Attorney

The Power of Attorney needs to be made before you lose the ability to deal with your own affairs and can conveniently be made at the same time as you make your Will. Naturally, careful thought needs to be given to who you should appoint as your Attorney. You can appoint more than one person and you can choose whether they must act "jointly" (so that all the Attorneys have to act together) or "jointly and severally" (so that they can act independently of each other) or jointly in some matters and jointly and severally in others. We can advise you on the advantages and disadvantages of each.

Generally speaking Powers of Attorney have only enabled Attorneys to deal with your financial affairs but under the Mental Capacity Act 2005, it will be possible to appoint someone to take decisions on your behalf in personal matters such as hospital treatment and care arrangements. The Act also gives statutory recognition to Advance Directives or Living Wills.

For more information contact
Kathryn Ayrdon or Barbara Pond

Cozens-Hardy LLP is a limited liability partnership