What is a power of attorney?

What exactly is a power of attorney?

A power of attorney is a means by which you give someone the means to make decisions for you. Usually, a power of attorney is granted to someone who, due to mental illness, is no longer able to make the right decisions. An example of this is the onset of dementia.

A power of attorney may be granted expressly or tacitly.

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What powers of attorney exist?

There are various powers of atterney. These are set out for you below:

Special power of attorney

This power of attorney is granted with a clear objective or a specific action in mind. For example, a special power of attorney can be used to determine who can sell the house of the deceased. A special power of attorney can also be granted to someone who has to decide what happens to the possessions of the deceased.

Private power of attorney

If you choose not to have a power of attorney drawn up by a notary, this is called a private power of attorney. The disadvantage of this form of power of attorney is that it does not give a general power of attorney. For example, the proxy cannot apply for a mortgage in the name of the person whose power of attorney it is.

Power of attorney with notarial deed

Many people choose to have the power of attorney drawn up by a notary. A notary possesses sufficient legal knowledge. With this, he can give you sufficient advice to come to a good power of attorney. The notary also makes sure that the person who signs the power of attorney is willing to receive it.

Bank's Power of Attorney

A bank's power of attorney is very similar to the special power of attorney. The bank's power of attorney in fact gives someone a power of attorney to manage the current account. However, it is important to know that the bank is not responsible for the actions of the proxy. The bank will therefore not supervise the way in which the authorized person handles the money.

Do you need help in drawing up a power of attorney?

At Family First, we can help you draw up a power of attorney. Please, contact us directly to discuss the possibilities.