As the festive season fades and the glow of a new year emerges, many of us turn our thoughts to resolutions. Gym memberships, healthy eating, and learning a new skill – these are all common promises we make to ourselves. But what if there was a resolution that offered profound peace of mind, not just for you, but for your loved ones too? This year, McPartland & Sons Solicitors urges you to consider one of the smartest and most responsible steps you can take: setting up a Power of Attorney.
Often, the phrase “Power of Attorney” might conjure images of old age or infirmity. While it is crucial in such circumstances, it is a vital planning tool for everyone, regardless of age or current health. Life is unpredictable. Accidents happen, sudden illnesses strike, and circumstances can change in an instant. Having a Power of Attorney in place means you have already made arrangements for someone you trust implicitly to manage your affairs should you ever lose the capacity to do so yourself.
What Exactly is a Power of Attorney?
In its simplest form, a Power of Attorney (POA) is a legal document that allows you to appoint one or more people (known as attorneys) to make decisions on your behalf. These decisions can relate to your finances, your property, and, with certain types of POA, your health and welfare.
There are different types of Power of Attorney in Northern Ireland, each serving a specific purpose:
- Ordinary Power of Attorney: This type of POA is effective immediately and remains valid only while you have mental capacity. It’s often used for short-term situations, such as if you’re going on an extended holiday or are temporarily incapacitated and need someone to handle specific transactions.
- Enduring Power of Attorney (EPA): This is the most common and arguably the most crucial type of POA for long-term planning. An EPA allows your chosen attorney(s) to manage your property and financial affairs even if you lose mental capacity. Unlike an Ordinary POA, it continues to be valid (endures) beyond the point where you might no longer be able to make decisions for yourself. This is the cornerstone of protecting your financial future.
Why Should This Be Your New Year’s Resolution?
- Peace of Mind: This is perhaps the most significant benefit. Knowing that your affairs will be managed by someone you trust, according to your wishes, removes a huge burden of worry for both you and your family.
- Protecting Your Wishes: Without an EPA, if you lose capacity, your family may have to apply to the High Court to have a Controller appointed. This can be a lengthy, stressful, and expensive process. Critically, the Controller might not be someone you would have chosen, and their decisions may not align with your personal preferences. An EPA ensures your voice is still heard, even when you cannot speak for yourself.
- Preventing Financial Stress for Your Family: Imagine a scenario where you’re unable to access your bank accounts or pay bills. This could create significant financial hardship and stress for your loved ones who might struggle to gain legal access to your funds to manage your essential outgoings. An EPA bypasses this by giving your attorney the authority they need.
- Tailored to Your Needs: When setting up an EPA, you can specify exactly what powers your attorney has, and even include conditions or restrictions. You can appoint multiple attorneys to act jointly or individually, ensuring a robust and flexible arrangement.
- It’s Not Just for the Elderly: While crucial for later life, a sudden illness or accident can happen at any age. A young professional, a new parent, or a retiree can all benefit from having an EPA in place. It’s about planning for life’s uncertainties, not just old age.
We are here to help
Setting up a Power of Attorney might seem daunting, but with McPartland & Sons Solicitors, it’s a straightforward and reassuring process. Our experienced team in both Lurgan and Lisburn will:
- Explain Your Options: We will clearly outline the different types of POA and help you determine which best suits your personal circumstances and future planning needs.
- Guide Your Choice of Attorney: We will discuss the responsibilities of an attorney and help you consider who would be the most suitable person or people to appoint.
- Draft Comprehensive Documents: We will meticulously prepare all the necessary legal documents, ensuring they are valid, robust, and accurately reflect your wishes.
- Handle Registration: For an Enduring Power of Attorney to be fully effective when capacity is lost, it must be registered with the Office of Care and Protection. We will guide you through this essential step, ensuring all legal requirements are met.
Don’t let another year pass by without addressing this crucial aspect of life planning. Make 2026 the year you secure your future and protect your loved ones from unnecessary stress and difficulty.
Contact McPartland & Sons Solicitors today to schedule a consultation and make setting up a Power of Attorney your smartest New Year’s resolution.
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