General Power of Attorney
General Power of Attorney enables you to appoint someone to deal with your property and affairs whilst you are still capable. This is the perfect solution if you were to go on extended holiday, became ill or housebound - it does not continue in the event of mental incapacity.
What is a General Power of Attorney?
A General Power of Attorney gives your nominated Attorney authority to make decisions and action these decisions on your behalf. This could include buying or selling property or shares, signing cheques, etc. Usually a General Power of Attorney is created for a set period of time in cases where the donor is going abroad, or is unable to act for some other reason and wishes someone else to have the authority to act on his or her behalf. A General Power of Attorney will usually end either at a specified time or upon the request of the donor at any time, using a Deed of Revocation, and will automatically be revoked if the donor loses mental capacity.
When can my Attorneys start to act?
There is no requirement for the General Power of Attorney to be registered and consequently a General Power of Attorney can be used straight away.
For more information on General Power of Attorney, please get in touch with the Redstone Wills team today.
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