Auckland Lawyer For Power Of Attorney – Why And How
A power of attorney is a legal document that allows you to designate someone to act on your behalf in legal, medical or financial matters. This might seem that you are giving a lot of power to someone, so it is important that this document is drafted and written so that the person is not disadvantaged. Given the potential for bad decisions being made, it is essential that you seek the advice and help of an Auckland lawyer for Power of Attorney.
Why Do You Need A Power Of Attorney
There are several reasons why it can be a good idea to have a power of attorney:
- Incapacity: If you become incapacitated due to illness or injury, you may not be able to make decisions about your finances or healthcare. With a power of attorney, you can designate someone you trust to make these decisions on your behalf.
- Convenience: Even if you are not incapacitated, a power of attorney can be convenient if you are unable to attend to certain matters, such as signing documents, while you are out of town or otherwise unavailable.
- Business purposes: If you own a business, a power of attorney can allow someone to manage the business on your behalf if you are unable to do so.
- Peace of mind: Knowing that you have designated someone to act on your behalf can give you peace of mind, especially if you are aging or facing health issues.
Overall, a power of attorney can be a useful tool in ensuring that your affairs are managed according to your wishes, even if you are unable to manage them yourself.
It is essential to hire an Auckland lawyer for Power of Attorney.
Who Needs A Power Of Attorney?
When people become incapacitated in some way, they are not able to make decisions for themselves.
This might be someone undergoing surgery, someone who has been involved in an accident, or an older person with dementia for example.
In these situations, relatives, or legal representatives, cannot make decisions on their behalf. This can result in difficulties in accessing money to pay for treatment as an example.
Let’s Look At Some Examples
It is often supposed that only older people need a Power of Attorney but that isn’t the case.
Imagine if someone in their 20s or 30s has a car accident and they are confined to hospital for weeks. They may have subscriptions to TV streaming services for example. They cannot use them while they are in hospital, so it is money being wasted. If a relative financial power of attorney, they could go to the bank account and pause those subscriptions.
That is a small example but one that we can easily relate to.
Bigger problems arise when someone loses mental capacity, again taking the car crash as a potential situation.
A relative will need to make many decisions on behalf of their injured family member. These can be made by hiring a lawyer but that is expensive. If the person has had the foresight to draw up a power of attorney, then life will be much simpler, and cheaper, for their caring relatives.
An Auckland Lawyer For Power Of Attorney
Given the potential risk of wrong-doing, it is essential that people consult an Auckland Lawyer For Power Of Attorney to properly draft the document. They will be able to advise on the wording of it, plus how and when to use it.
If you need help in producing a power of attorney document, McVeagh Fleming can help. They are located in the centre of Auckland. You can find out more from their website.