You’ve probably heard of Lasting Powers of Attorney (LPAs), which enable you to appoint others to look after your financial and property affairs should you lose capacity.
However, LPAs are not the only way of granting authority for someone else to manage your affairs.
Here’s what you need to know about Ordinary Powers of Attorney.
What are Ordinary Powers of Attorney?
Ordinary Powers of Attorney (OPAs) are temporary legal documents that enable you to grant authority to one or more people – “the Attorneys” – to look after and manage your affairs.
An OPA can be very useful if you need help from someone to look after your financial affairs temporarily – for example, if you are facing a custodial sentence or lengthy remand awaiting trial.
What conditions are required for an Ordinary Power of Attorney?
An OPA can only be put in place with your permission and if you are at full mental capacity, with a full understanding of the implications of an OPA.
You’ll decide who will act as your Attorney(s) and you can cancel OPA at any time.
Should you lose mental capacity, the OPA will come to an end.
How does an OPA differ from an LPA?
Rather than conferring a general power, an OPA can limit the Attorney(s) to very specific acts.
For example, you may use an OPA to allow someone to sell a property on your behalf.
At the end of the OPA’s time period, or at the conclusion of a particular transaction, the OPA ceases, and the Attorney(s) will have no further power to act on your behalf.
Manage your affairs with Hethertons Solicitors
An OPA is a very useful way of appointing someone to help manage your financial affairs on a temporary basis.
However, it is important that you understand fully the implications of an OPA and how to ensure clarity on what your Attorneys can and cannot do.
Independent legal advice is vital for protecting your interests and making sure an OPA is right for you.
For more information about Ordinary Powers of Attorney, get in touch with our expert team today.
