What is a power of attorney?

• Under a power of attorney you formally give permission for another person or a trustee organisation to legally manage your assets and financial affairs if you are unable to do so.
• A power of attorney can only deal with property and financial matters.
• There are two types of power of attorney. These are ordinary and enduring power of attorney.
• With an ordinary power of attorney you give the power to someone for a limited period of time such as if you are overseas on a long-term holiday. An ordinary power of attorney ceases if you lack capacity to act for yourself.
• An enduring power is for an extended and indefinite period of time. An enduring power of attorney continues if you lack capacity. This means your enduring power of attorney will still be able to manage your affairs if you start to suffer from dementia or are otherwise incapacitated.
• If you have any concerns you can use our free and anonymous Ask a Lawyer service to get information specific to your situation.