4. Powers of Attorney

If you are named as an Attorney in a Lasting Power of Attorney, then you may be required to make decisions about the affairs of a friend or family member.

Attorneys have to make very complex decisions about another person’s finances or health and welfare. Because of this, you may wish to consider appointing a professional to carry out the role.

If you made an Enduring Power of Attorney before they were replaced with Lasting Powers of Attorney in 2007, you may wish to consider whether it’s still valid.

An Enduring Power of Attorney must be registered when the person who made it begins to lose mental capacity.

If you own a business, there are a range of special considerations to keep in mind when making a Lasting Power of Attorney.

If you are named as an Attorney in a Lasting Power of Attorney, then you may be required to make decisions about the affairs of a friend or family member.