Power of Attorney
A Power of Attorney is a registered legal document that allows a person nominated by you to deal with your financial affairs and make decisions about your personal welfare, at the point where you are unable to make these decisions yourself or simply if you believe it is more appropriate for another person to deal with your affairs as you get older.
Dealing with banks, and other financial institutions can be complicated. Yet, if you need someone else to help, such organisations often cannot deal with that person without a registered Power of Attorney.
We believe a Power of Attorney is a good idea at any age, but an absolute essential from retirement onwards.
Reassuringly, if you sign a Power of Attorney you do not need to hand over your affairs to the nominated person immediately.You can and should continue to make your own decisions for as long as possible. Yet the Power of Attorney is available to your family immediately when needed.
Powers of Attorney need to be registered with the Office of the Public Guardian. Their website is a good source of further information at www.publicguardian-scotland.gov.uk.
Many clients choose to draw up a Power of Attorney at the same time as making wills and our costs for these services are shown below:
|Service||Fees||VAT||Registration Costs for POA||Total|
|2 x Wills for Couple||£375||£75||£450|
|2 x POAs for Couple||£400||£80||£166||£646|
|Single Will + Single POA||£500||£100||£83||£683|
|2 x Couples Wills + 2 x Couples POAs||£700||£140||£166||£1,006|
|Home or Hospital Visit||£60||£12||£72|
|Single Will Complex*||£350||£70||£420|
|Couple Will Complex*||£600||£120||£720|
|Living Will/Advance Directive||£150||£30||£180.00|
Please contact Lucy Taggart or Alison Gordon or telephone us on 0131 668 0470 to discuss your requirements more fully.
Alternatively, please complete this form and we will make contact with you.
* A will can be considered complex for several reasons such as the family dynamic, for example where there are children from a previous relationship, or because of the value of your estate. Standard Wills are suitable for unblended families, those with assets in Scotland, those who don’t need IHT advice or Trusts, and those who require less than 6 legacies. If not, a Complex Will is perhaps a better option. We’ll advise on what is best for you, with no no-obligation for you to continue with us. Complex wills are also required where there is an element of Care Home planning required.