Why arranging a power of attorney can give you back control

ILAWS SCOTLAND ARE THE EXPERTS WHEN IT COMES TO SAFEGUARDING YOUR FINANCIAL FUTURE

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LIFE is chaotic and unpredictable, as much as we like to think we are in charge of our own destiny.

Everyone understands that the risk of accidents, illness and death increases as we get older but it’s important to remember that hard times can hit us at any stage in life. And, as the Scouts would say, you have to be prepared.

One way of doing this is by organising a power of attorney - a legal arrangement that allows you to nominate a person or people to make important decisions on your behalf in the event that you are unable to do so, for example due to ill health, a serious injury, or mental incapacitation.

People often think this is something you only need to consider in old age, if at all, but high-profile consumer finance experts argue that if you are in your 30s, 40s or 50s and in good health, it's actually more important than a will.