Powers of Attorney – 5 guiding principles

I often hear my clients say that they are not old enough to have a Power of Attorney in place. My answer is always that adults are never too young to consider granting one. Ideally you would grant a Power of Attorney at the same time as you sign your Will.

To provide you with confidence in your decision there are five guiding principles which Attorneys must comply with when carrying out their duties:

The 5 principles you must comply with

1. They may only make a decision if it is designed to provide you with some benefit

2. Attorneys must exercise their powers in the way which least restricts your freedom

3. When decisions require to be made, your wishes should be taken into account

4. When options are being considered appropriate persons should be consulted by Attorneys; this may include children or parents

5. You should be encouraged to participate in decision making whenever possible and by whatever means are available