Types of Power of Attorneys
Continuing and Welfare Power of Attorney
Most people choose this option.
Continuing is the standard power of attorney for property and financial matters. It allows your attorney to do anything that you could do, for instance, sign your cheques, invest your money or sell your property. This can come into effect immediately or whenever you decide and is without limit of time - even continuing after you are no longer mentally competent.
Welfare powers, on the other hand, allow your attorney to deal with more personal matters such as your medical treatment, where you live, who you see, what you wear and what you eat. Importantly, this power cannot, by law, come into effect until such time as you are no longer able to make such decisions.
Continuing Power of Attorney
Continuing only - this is the standard power of attorney for financial matters. It allows your attorney to do anything that you could do with your finances, for instance, sign your cheques, invest your money, sell your property. This can come into effect immediately or whenever you decide and is without limit of time - even continuing after you are no longer mentally competent.
Specific Power of Attorney: Property Letting
This is to allow someone to carry out the specific task of letting a house and is, therefore, likely to have a limited life. This usually has immediate effect.
Specific Power of Attorney: Selling
This is to allow someone to carry out the specific task of selling a house and is, therefore, likely to have a limited life. This usually has immediate effect.
Welfare Power of Attorney
This is the type of power of attorney which allows your attorney to deal with more personal matters such as your medical treatment, where you live, who you see, what you wear and what you eat. Importantly, this power cannot, by law, come into effect until such time as you are no longer able to make such decisions.
Non continuing Power of Attorney
Non-continuing is the same as the continuing but the financial powers terminate if you become mentally incapable.
Non-continuing and Welfare Power of Attorney
A non-continuing and welfare power of attorney is like the continuing and welfare power of attorney but the financial powers terminate if you become mentally incapable.
Conversely, the welfare powers cannot, by law, come into effect until such time as you become mentally incapable.
