A Property & Financial Power of Attorney allows you to nominate someone to act on your behalf when you no longer can.
Typically, it would enable your appointees to do any of these things so long as they are in your interest:
- Collect or pay over money, property or rights due.
- Pay in and withdraw money, sign forms, make online transactions, open and close accounts.
- Authorise spending.
- Invest money available.
- Vary the terms of any investment.
- Buy, sell, lease and exchange property.
- Access information regarding your financial affairs.
- Deal with tax: make claims and payments, fill in and sign forms.
- Administer, manage and upkeep property including tenancies.
- Set up, run, sell or wind up any business, including employing and paying staff, delegating and running business.
- Raise or defend any legal or court actions.
- Attend, act and vote for me at meetings of any company or partnership you have an interest in.
- Continue or set up a guarantee or indemnity due to another person.
- Borrow or lend with or without security.
- Make gifts of property or establish trusts for your partner, children, siblings, friends and family, or any chosen charity or organisation. Change these and pay any tax due.
- Access confidential information about your Will and other provisions.
- Employ solicitors, factors, stockbrokers, investment managers, bankers or other agents (or act in this capacity if qualified).
- Reimburse your Attorney(s) for any reasonable outlays or out of pocket expenses.
In Scotland this Continuing Power of Attorney for Property and Financial powers can join with a Welfare Power of Attorney in a Combined Power of Attorney.
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