subject: Why you need a power of attorney clause in your will [print this page] Why you need a power of attorney clause in your will
For many of us, the idea of making our will is not something that we relish or indeed, are comfortable even spending much time thinking about. Part of the reason for this is because given the fact that wills are legal documents which dictate and outline how we wish for our assets and property to be distributed after our death, people avoid them. After all, who wants to be confronted with the inevitability of such a gloomy and morbid topic such as dying?
However, it is essential that we are aware of one thing: a will is not merely designed as a rather formal set of instructions for when we die. A will can also specify the rules concerning power of attorney for the "testator" or the person who created the will.
Power of attorney is the legal term used to refer to the process whereby a designated, named person, nominated by the testator, has the legal right to manage the "affairs" of the testator. Power of attorney will invariably arise in the event that the testator is no longer competent to handle their own life and affairs, and this maybe as a consequence of an illness, disease or an accident.
Power of attorney can encompass a broad range of different topics and concerns, ranging from the rules concerning the payment of outstanding credit card debts and bills, to the rules concerning contributions to an occupational pension scheme. Power of attorney may also make reference to and provisions for the actions to be taken in the context of medical care.
Many people are resentful at solicitors whenever the subject is raised as these people are labouring under the woefully erroneous and mistaken belief that there is no need to submit to the legal process required for power of attorney. After all, surely power of attorney is an automatic right that will pass between spouses and or family members?
Actually, no.
In order to have power of attorney, a person must be legally appointed in that capacity. In the event that you do not have a person nominated to have power of attorney, then the court will need to intervene and then make a final determination as to who is the best suited candidate for the job at hand. There is no way for any of us to predict or foresee the future and so disaster may strike and affect any of us. With that in mind then, it is essential that we are proactive with including a power of attorney clause in our wills.
