A formal document which allows another person to perform juristic acts on your behalf.
What is it?
Why do you want one?
A power of attorney can be used to allow someone else the right to manage your affairs if you cannot do so yourself or are physically incapacitated.
Important to note
- You as the principal will be bound by the acts performed by the agent on your behalf.
- Power of attorney automatically lapses if the principal becomes mentally incapacitated. The law states that the agent cannot do something the principal cannot do themself. This means it cannot be used for those suffering with dementia, Alzheimers and other mental illnesses.
Do you need it?
Yes, if you plan to be out of the country for an extended period of time and want to leave someone else in charge of your affairs. A power of attorney is also useful if you are physically ill, impaired or old. This will give a spouse or loved one the ability to handle your affairs.
How much does it cost?
Attorneys will charge a fee to draft a power of attorney.
How can we help you?
We offer a free power of attorney template and will help you draft one to suit your situation.