Skip to Main Content
Lawyers in Edinburgh
Solicitors in Edinburgh
Family Solicitors/Lawyers in Edinburgh

Latest news and insights

Be prepared for the unexpected by setting up a Power of Attorney

Protect your future and your loved ones by understanding the importance of a Power of Attorney.

How to navigate divorce or separation in 2025

Discover what to consider when preparing for divorce, including legal requirements, emotional readiness, timing, finances, and seeking professional support.

Building Fair Terms: The Costly Consequences of Unfair Contract Terms

The recent case of Michael Glaser KC, Victoria Miller v Katharine Jane Atay highlights the importance of fair contract terms for consumers

Be prepared for the unexpected by setting up a Power of Attorney

Published: 30 January 2025
Time to read: 3 mins

As we toast to living long and well, the new year is a time to look forward and evaluate what is important.  It is a time to set new goals, make resolutions, and plan for the future. With health often being a top priority, it is important consider that our affairs are in order in case of any unforeseen circumstances. While making a will is an essential part of personal planning, many people tend to overlook the importance of ensuring they have a plan in place should something happen during their lifetime. When planning for the future, here’s why a Power of Attorney be high on your priority list.

The topic of Power of Attorney has hit the headlines recently after, financial journalist Martin Lewis said: “Power of Attorney is more important than a Will. A Will decides what happens to your assets if you die. Power of Attorney decides what happens to your assets if you lose your faculties.”

Life is unpredictable and whilst powers of attorney are commonly associated with age-related decline, an unexpected illness or accident can also create huge challenges for families in the most difficult and stressful of times.

How can a Power of Attorney protect you?

Preparing a power of attorney allows someone you trust (“the attorney”) to make financial and/or welfare decisions for you if you are unable to do so in the future. You can prepare a power of attorney at any time, however, planning ahead in the event that you are unable to grant one when needed is advisable. This means that your plans and wishes are followed should you lose the capacity to look after your finances or make decisions about your care. It is also an important tool that can be used when a person is out of the country and financial decisions and documents need to be signed quickly. Crucially, it ensures those you have nominated are aware and comfortable with their responsibilities.

The attorney (not to be mistaken for an American lawyer in this instance) will likely be a trusted family member, friend or in some circumstances, a solicitor. The key is to pick someone you trust completely to step into your shoes and make the decisions you are unable to at that time.

It is a common misconception that a family member will automatically take on the role of decision-maker should it be required. However, if you were to lose the ability to make decisions for yourself and did not have a Power of Attorney in place, the courts may need to appoint a Guardian for you. This is a long, expensive and often stressful process in comparison to putting a Power of Attorney in place in advance, particularly if you are a property and/or business owner. Moreover, the appointed Guardian may not be who you would have selected.

Gain peace of mind

Whilst templates or DIY kits are available online, engaging a qualified solicitor to draft your Power of Attorney is strongly recommended and is likely to be more straightforward than you think. A solicitor can ensure that your document complies with the legal requirements, the attorney or attorneys are appointed in the most suitable way, and you are guided on the specific types of powers you may wish to grant.

So, as you embark on your new year’s resolutions, consider making a Power of Attorney a priority for your own peace of mind. After all, as the saying goes “lang may your lum reek”, but it is always wise to plan for the unexpected!

 

Go Back

Our related services

To find out how we can help you with this topic or others, contact our expert teams or Kimberley Mackay directly.

SUBSCRIBE

To receive regular updates like this one, you can sign up to our bulletins, and we will provide updates on the issues that matter to you.

SUBSCRIBE NOW

Get in touch

Contact us to find out how we can help you.

Get in touch

Lawyers in Edinburgh
Solicitors in Edinburgh
Family Solicitors/Lawyers in Edinburgh

Find a lawyer

If you are looking for a specific member of our team, you can search for them by their name here. You can also search for your regular contact by their area of expertise using the buttons below.

Visit the ‘Our People’ page for more ways to search if you can’t find who you’re looking for.