Legal Studies 1030

Section 3 - Laws Related to Wills to and Estates

Lesson 15 - Power of Attorney

Power of Attorney:

A document giving another person (the Attorney) the authority to act on your behalf and look after your financial affairs' If you lose the mental capacity to make financial decisions, this power of attorney ceases to have effect.

Enduring Power of Attorney:

A document giving another person (the Attorney) the right to look after your financial affairs. An enduring power of attorney will continue to have effect even after you have lost your mental capacity.

(Can you think of any disadvantages to having an enduring power of attorney?)