Kaye Tesler Solicitors
Telephone: 020 8809 6756
Facsimile: 020 8802 0660
E-mail: kt@uklaw.net
Power of Attorney
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What is a Power of Attorney?
A Power of Attorney is a relatively simple document by which you give another
person authority to act on your behalf and to sign all documents in exactly
the same way as if you were doing it yourself. Be careful, if you give the power
to the wrong person you may find that he has emptied your bank account, sold
your home and is sunning himself on a tropical isle!
There are two basic types of power, a general power giving the person the right in effect to do anything and everything that you can do at law, or a limited power which gives the attorney the right to in effect be you in law but ONLY in respect of certain things. A limited power is safer because the persons' authority is limited to do only what you authorise.
When should I use a Power of Attorney?
There are no rules. Quite simply it is used if you for some reason or other
will not be available or be unable or, indeed, unwilling to undertake your own
affairs and wish someone to do it for you. There are many occasions when this
could happen, for example:
A) You are going aboard for a time and wish somebody to look
after your affairs.
B) You are selling your property but will not be available for some reason to sign the documents.
C) You are old or unwell and do not feel up to managing your own affairs and wish someone to do it for you.
The last example given above is of increasing importance. Many people have ageing relatives who while certainly not senile are unable or simply cannot be bothered to manage their affairs correctly. A Power of Attorney given to a trusted relation can save many problems that can arise when the elderly or unwell person deteriorates so as not to be able to manage their own affairs.
The greatest care however must be undertaken when granting a Power of Attorney. The grant of such a power gives to the attorney the same power to deal with the affairs of the grantor (subject to any limitation within the document) as the grantor has him or herself.
Who can be an Attornee?
Quite simply any competent adult. The word 'attornee' must not be muddled with
the American word 'Attorney' which describes an American lawyer. Any competent
adult basically can exercise the Power of Attorney.
How much will it cost?
Our charge for drawing a general Power of Attorney is £40.00 plus VAT
of £7.00, and for a Power of Attorney with restrictions/limitations is£50.00
plus VAT of £8.57
Once you have completed the questionnaire we shall prepare the document for
you. It then will be sent to you by e-mail, fax or old fashioned snail mail
with instructions on how it must be signed and all the steps that you must thereafter
take.
If you wish KAYE TESLER & CO to prepare the appropriate document, please
click the following link to e-mail us or call
us on 020 8809 6756.
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