Power of Attorney. What is it please ?

[AnyOldFucker]

My parents are asking me if I wish to have POA.

They have taken advice from a financial advisor, I believe.

I know absolutely nothing about it. Can anybody help to enlighten me please ?

www.gov.uk/power-of-attorney/overview

"A lasting power of attorney is a legal document that lets you appoint someone (known as an ?attorney?) to make decisions on your behalf."

Having POA will allow you to make financial and health/welfare (though the financial and health poas are different) decisions for someone if they are unable to do so. They have to be signed while the person is still 'competent' to do so, but are activated later as needed.

If your parents are offering, and you would be happy to manage their affairs at a later date if necessary, then absolutely accept. Much, much easier than needing to help out and finding its too late to do a POA

Thanks x