Does the possibility of physical or mental incompetence give a particular reason for using a power of attorney?
Yes. A power of attorney can be an important part of your planning if you become unable to manage your financial affairs because of physical disability or mental incompetence. It is important to plan ahead. If you delay in giving the power, you may be unable to do so when you need it. Does the possibility of mental incompetence require particular attention? Yes. For a power of attorney dealing with financial or property matters to operate when the donor becomes mentally incompetent, it must be an enduring power of attorney. Enduring Powers of Attorney What is an enduring power of attorney? It is a power of attorney that continues to be legally effective after the donor becomes mentally incompetent. Is anything special required to create an enduring power of attorney? Yes. You must include a specific provision in the power if it deals with financial and property matters. What does the Property Act require? To create an enduring power of attorney for property and financial matters: The p
