Contrary to popular belief, power of attorney isn’t about taking away your power to do things your way within the law. When you assign a person or lawyer the power to carry out your affairs, you’re still the boss. If it’s a lawyer you choose to give power to, your lawyer will likely advise you for or against something but ultimately, you’re the one in charge of the way your interests go.
When you give power of attorney to your lawyer, you are the ‘principal’ and your lawyer represents you, acts on your behalf. If you happen to end up with diminished mental capacity, then your lawyer will carry out your affairs in line with your wishes when you were in full mental capacity, and in line with the law.
Power of attorney is the written authorization you give your lawyer to act on your behalf, serving your business and private interests. To ensure you are covered for any eventuality that will prevent you from carrying out your affairs, you can plan for the management of your business and finances, and even personal welfare.
There are a wide range of services that will empower you, in the event that you become unwell, or become completely impaired. You may also give your lawyer the power of attorney to carry out your business affairs, even if you are in full health and otherwise engaged in other affairs. In other words, if you haven’t got time to carry out some of your affairs, your lawyer can represent you.
If you are considering giving authority for someone with legal expertise and business experience to represent you, please give us a call for an informal discussion. We have a wide range of services that can assist you in your business interests. SG
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