In Alison McKay’s article featured in today’s Scotsman (7 October 2024) she reflects on the real experience of a friend to emphasise the benefits of putting in place a Power of Attorney.
“I have a friend whose husband suffered a stroke, aged just 36. Thankfully, he survived and is enjoying life with his family. For a while, he was unable to deal with his share of their family’s legal and financial affairs.
It was an incredibly difficult time, made more challenging by the fact that he did not have a Power of Attorney in place - meaning that my friend could not easily pick up those tasks or make whatever immediate decisions needed to be made.
As a lawyer who spends their professional life advising people on how to manage their personal legal affairs, it was a very real reminder as to why Powers of Attorney are important in helping our families manage the unexpected in the most unwanted of circumstances - at any stage in our lives.
Had he had this safeguard in place - setting out that he wanted his wife to manage his personal, legal and financial affairs in the event he found himself unable to - my friend would have had access to his bank accounts and been able to deal with all the other finance matters that her husband usually managed.
Over time, ways were found to ensure everything was taken care of. It would, of course, have been simpler and less stressful had there been a Power of Attorney (PoA).
He is, worryingly, among the majority of people in Scotland with research indicating that perhaps as little as 2% of the national adult population registers a PoA each year. The older the age group, the sharper numbers rise. But the assumption that this is something you only need as you get older, could not be further from the truth.
Accidents or illnesses which leave you incapacitated can happen at any age, as my friend’s situation highlighted. Not having one means going through the process of appointing a Guardian, which can be lengthy and more expensive than drawing up a PoA.
The only recognised way to ensure that a trusted family member or friend of your choosing is legally empowered to oversee your affairs is through a PoA. These can be made by anyone aged over 16, dealing with welfare, financial affairs or both.
They are not something which replaces a Will. Nor do they give away your legal power or rights, as some mistakenly believe. I prefer to think of them as being more akin to an insurance policy - something you hope you never need, but have the guarantee and reassurance of knowing it is there should the need arise.
Like Wills, though, they should be tailored to your specific personal and professional circumstances, including any measures which need to be in place should you run your own business. As a business owner, the last thing your family needs at an upsetting time is uncertainty around how staff or suppliers will be paid, for example.
Also like Wills, they are something which need to be talked about among families. Some people realised this during the coronavirus pandemic, but registrations with the Office of the Public Guardian remain worryingly low.
The importance of PoAs is too often underappreciated. Awareness about them - and the protection they provide for people and their families - needs to grow.”
Published 7 October 2024.
