New analysis by property website Zoopla has revealed that over a third (34%) of properties on the market have had their asking prices reduced, which is an increase of 2.5% since March.
Power of Attorney
At Hennessy Bowie, we specialise in helping you plan for the future. Obviously we can’t predict exactly what life is going to throw at our clients, but we can help them deal with some of the most difficult legal aspects of life ahead of time. Planning ahead for your old age, or that of a loved can save time, expense and hassle at a later date.
Power of Attorney in Scotland
When someone becomes unable to manage their own affairs through illness, injury or old age then it can be necessary for a loved one to step in. However the law doesn’t simply let us assume control of another person’s business. There are two ways to legally manage another person’s affairs – by costly, time-consuming and stressful court procedures or by putting in place a power of attorney ahead of time.
A power of attorney grants the power to manage the granter’s affairs to a loved one, a trusted family member or friend or a professional. Our solicitors are able to put in place the necessary arrangements so that you or your loved ones affairs are managed by the person of your choice and not the state. If no power of attorney is in place, a guardianship order must be applied for.
When does a power of attorney operate?
A power of attorney operates when a person is unable to manage their own affairs, normally this is because they are suffering from a permanent or temporary mental disorder, they become physically or mentally disabled or they have lost the ability to communicate.
How does a power of attorney operate?
A power of attorney allows the grantee (the person to whom the power has been granted) to manage the affairs of the granter (the person who has granted the power) in the granter’s best interests. Depending on the needs of the granter, what particular affairs are to be managed and the precise circumstances, different powers may be required.
What types of power of attorney are available?
There are three types of power of attorney:
Simple power of attorney
This is used in situations where the grantee is temporarily unable to manage their own affairs and allows the management of routine financial affairs.
Welfare power of attorney.
This allows the grantee to make decisions relating to the granters personal welfare – for instance decisions relating to care arrangements, accommodation arrangements and social activities. This type of power can only be exercised if the granter is incapable of managing their affairs on their own. This type of power can be combined with continuing power of attorney.
Continuing power of attorney.
This allows the grantee to deal with the granters financial affairs. This can be combined with continuing power of attorney. This type of power of attorney is only valid if expressed in a signed document and is certified by a solicitor.
We can help draft and register a power of attorney. If you are worried about what might happen if you or a loved one was to lose the ability to manage their own affairs, contact us today.
Contact our power of attorney solicitors
Call Hennessy Bowie on 0141 762 4040 or click here to make an online enquiry.
Let us know how we can help - complete our online enquiry