A power of attorney is a legal document that allows someone to make financial and legal decisions for another person. It is easy to imagine the difficulties that arise when managing the financial affairs of an elderly parent who has dementia. They can't make rational decisions and could lose assets by signing on to a document that they don't understand.
It is possible to avoid additional problems that can arise with age, particularly in dementia cases, by giving a power of attorney to a trusted relative. It can help to bring order and logic to a difficult time in your life. Before we go any further, let's review the main reasons why a power of attorney lawyers are necessary for the first instance.
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The loss of mental capacity. As mentioned above, dementia in old age is a common condition and should be planned well in advance. A Power of Attorney solicitors can help to avoid potential problems and protect the assets of the person affected.
Legal and financial matters. A power of attorney covers not only financial matters but any legal issues that might arise.
A Power of Attorney does not mean that a person loses control of their assets. It just allows them to make decisions in the case of a later mental illness or incapacitating. Your solicitor will make sure you understand everything so there are no misunderstandings. This will allow you to live in peace knowing that your affairs are under your control.