Power of Attorney
A Power of Attorney differs from an Enduring Power of Attorney, in that any power conferred on the Attorney ceases if the Donor becomes mentally incapacitated. A Power of Attorney can be specific (limited to a particular purpose, for example, sale of your house in your absence) or general (entitling the attorney to do almost everything that you yourself could do). For example, it may allow the Attorney to take a wide range of actions on the donor’s behalf in relation to property, business, and financial affairs. He/she may make payments from the specified accounts, make appropriate provision for any specified person’s needs, and make appropriate gifts to the donor’s relations or friends.
At David J. O’Meara & Sons, we have extensive experience of creating Powers of Attorney for various purposes and of advising clients of the advantages and disadvantages of same.