Continuing Power of Attorney for Property
What if I do not have a Continuing Power of Attorney for Property?
If you have not made a Continuing Power of Attorney for Property, and you become mentally incapable of managing your property, one of the following things could happen:
- Friends or relatives could manage some of your property without having to be your attorney. For example, they might be able to manage pensions and social benefits.
- Someone could go to court and ask to be appointed to formally manage your property as your "Guardian of Property".
- The Office of the Public Guardian and Trustee could be appointed to manage your property. This is called a "statutory guardianship". In this case, a close relative can apply to the Public Guardian and Trustee to take over the formal management of your property.
Making a Continuing Power of Attorney for Property lets you choose a person you trust to protect your property and interests if the need arises.