Power of attorney is all about reassurance. With it in place, the person in question knows that - whatever their age - their affairs will be handled by someone they trust, if they are unable to handle matters on their own.

Do you really need power of attorney?
Power of attorney isn’t something most people like to think about.

After all, planning for old age, infirmity or your absence probably doesn’t feel like a priority when you are young and in good health.

However, planning for power of attorney is in many ways just as important as preparing a will.

We normally recommend arranging at least two separate powers of attorney - one to look after welfare issues, and the other to look after financial matters. This helps avoid potential conflicts, and gives everyone clear responsibilities.

How can power of attorney help?
At its most basic, arranging a power of attorney now can help avoid stress and disagreements in the future. It can also help you and your family avoid unnecessary costs.

However, many people wait until there is a pressing need before exploring the need for power of attorney. This only adds to the pressure - perhaps due to a family member being in an accident, or suffering from diminished mental capacity because of illness or old age.

Running your own business - how power of attorney can help
If you run your own business, you will probably need an additional (and separate) attorney to look after your business interests.