Power of Attorney FAQ - Ireland

Power of Attorney FAQ - IrelandPower of Attorney FAQ - IrelandGeneral InformationWhat is a Power of Attorney?A Power of Attorney is a document in which one person (the Donor) appoints anotlageher person (the Attorney) to act for him or her. There are many reasons why you might decide to use a power of attorney. For example, if you are going to be out of the country for a lengthy period of time, you might want someone to do your banking while you are gone. If you are approaching old age, you may want to give a Power of Attorney to a person you trust so that he or she can manage your property for you.Will a Power of Attorney still be valid after the Donor dies?NO.The DonorWho is the Donor?The Donor is the person who needs someone else to act for him or her. The Donor must be an adult. The Donor must be capable of making his or her own decisions at the time the Power of Attorney is executed (signed). What is incapacity?A person is incapable of managing property if the person is unable to understand information relevant to making a decision about the management of property, or if the person cannot appreciate the foreseeable consequences of making (or not making) a decision about the management of property.The AttorneyWho is the Attorney?The person appointed by the Donor is called the Attorney. The Attorney is the person who acts for the Donor.Does the Attorney have to be a lawyer?No, there is no need for the Attorney to be a lawyer. (See below for Attorney qualifications.)What qualifications does an Attorney need to have?The Attorney must be a capable adult. The Attorney cannot be an undischarged bankrupt. The Attorney should not be the owner, operator or employee of a nursing home or extended care facility in which the Donor is a resident.What qualities should I look for in an Attorney who will be managing my property?Your Attorney must be someone whom you trust completely. In addition, remember that your Attorney will have complete authority to deal with your fi nancial and legal affairs (subject to any limitations or restrictions specified in your Power of Attorney). You should ensure that the person you choose has adequate financial management skills and sufficient time to handle your affairs properly. Your Attorney must be available when required, be able to objectively make decisions and be able to keep accurate financial records.What are the responsibilities of my Attorney?Your Attorney has the following responsibilities to act in your best interest to keep accurate records of dealings/transaction undertaken on your behalf to act for you with the utmost good faith and to avoid situations where there is a conflict of interest and to keep your property and money separate from their own.Is it okay to appoint a relative as Attorney?Yes, people often appoint relatives as Attorneys.Can my Attorney also be a beneficiary in my will?Yes.What are Joint or Joint Independent Attorneys?Sometimes a Donor will want to appoint two Attorneys. In that case the Donor must decide whether the Attorneys will be joint Attorneys or joint and independent Attorneys. Joint Attorneys must act together. They must both agree before any action can be taken, and they must both take the saatkorn action at the same time. If one is absent, no action can be taken. Joint and independent Attorneys can act together or individually. Either one can take an action without consulting the other. If one is absent, the other can still act.Length of TimeWhen does a Power of Attorney start?A general Power of Attorney starts immediately upon execution. An enduring Power of Attorney takes effect on the incapacity of the Donor.How/when does a Power of Attorney end?A general Power of Attorney ends automatically when the Donor becomes mentally incapacitated or dies. An Enduring Power of Attorney ends automatically when the Donor dies. As long as you are mentally competent and you have not made an application to register your Power of Attorney, you may revoke your Power of Attorney by notifying your Attorney (in writing) that the Power is revoked and destroying the original Power of Attorney. Otherwise, a Power of Attorney continues in effect indefinitely, unless the document specifies an end date.Can I revoke my Power of Attorney after I have become incapacitated?A person who is incapacitated cannot revoke an Enduring Power of Attorney. However, a general Power of Attorney is automatically revoked when the Donor is found to be incapacitated.How do I revoke my Power of Attorney?The Donor can revoke an enduring Power of Attorney at any time before an application is made to register it. Once the enduring Power of Attorney has been registered you cannot revoke it even if you are, for the time being, mentally capable. To revoke it, you would have to apply to the court and the court approve the revocation.PowersShould I put restrictions on my Attorney?When you give a general Power of Attorney, you give your Attorney the authority to do anything yo u could do yourself, with a few exceptions - such as areas where you possess skills that your Attorney doesnt (e.g. if you are a dentist, you cannot authorise your Attorney to practice dentistry on your behalf). But there may be some things you would prefer your Attorney did not do. For example, you may want to require that your Attorney get prior approval from you before signing cheques for large amounts on your account.Should my Attorney be allowed to personally benefit from managing my assets?If the person you are appointing as your Attorney is also a member of your family or a beneficiary in your will, you may want that person to be able to personally benefit from managing your assets, since you intend that person to become owner of the assets eventually. Generally, however, it is probably not a good idea to allow your Attorney to personally benefit from managing your assets as this creates a conflict of interest for your Attorney, who is legally obligated to act in your best in terest, not his or her own best interest.What can the Attorney do?The Attorney may transact geschftliches miteinander respecting the Donors property in all areas specified by the Donor.Is the Attorney obligated to do anything?Generally speaking, the Attorney is not obligated to act for the Donor. However, in some circumstances the Attorney may agree, in writing, to accept an obligation to take action when necessary. When the Attorney acts on behalf of the Donor, the Attorney must act in the best interest of the Donor.Does my Attorney have the authority to act while I am still available and able to take care of my own finances?A general Power of Attorney is effective as soon as it is executed (signed and witnessed, etc.) whether or not the Donor is available or able to handle his or her own affairs. An enduring Power of Attorney takes effect on the incapacity of the Donor.Signing DetailsWhat does it mean to execute a document?When a person executes a document, he or she signs it with the proper formalities. For example If there is a legal requirement that the signature on the document be witnessed, the person executes the document by signing it in the presence of the required number of witnesses.What if my Power of Attorney will be used in a foreign staat?If your document is intended to be used in a foreign nation, you may have to have it authenticated or legalised. This is a process whereby a government official (e.g., Department of Foreign Affairs and Trade ) certifies that the signature of the authority (e.g., notary or solicitor) on your document is authentic and should be accepted in the foreign nation. For more information about document authentication and legalisation, contact the local consulate/embassy of the foreign country your document will be going to, or one of the following government web sitesUnited States https//travel.state.gov/content/travel/en/legal-considerations/judicial/authentication-of-documents/office-of-authentications.htmlUnited King dom fco.gov.uk/en/about-us/what-we-do/services-we-deliver/legal-services/legalisation/Canada gov.on.ca/MBS/english/mbs/ods/authent.html(web site is for Ontario - other provinces contact the provincial Office of the Attorney General)Australia dfat.gov.au/brisbane/index.htmlOther ConsiderationsDo I have to register my Power of Attorney with a Land Registry Office?A Power of Attorney given for the purpose of buying or selling real property (land) should be registered.