How can we help
Sometimes you may need someone else—a spouse, partner, family member, or attorney—to take care of things like your finances for you. There are different ways to organize this depending on how long you need help and what you need it for.
If your question relates to savings, please refer to the "Let someone else help you with your billsYou can find more information about each option below and can help you decide which option is best for your savings situation. The brochure also provides a summary of the powers each option grants to its agent.
Mandate of third parties
What is it?
Short-term help, for example if you feel unwell or are travelling. If so, you can give your spouse, partner, family member, or attorney temporary access to your accounts.
how do we do it
Please fill out the form and send it back. To do this, click the link below to download it. dischargeHere you will find the mandate form for third parties.
Return this form along with two pieces of ID for the named individualPost Office Money Savings, PO Box 87, Armagh BT61 0BN.(A list of acceptable documents can be provided upon request. One document must verify the agent's name and the other your address.)
Keep in mind:Generally, no other person can make changes to your account, process an overdraft, or open or close an account for you.
Powers of Attorney and Court Orders (if you live in England and Wales)
enduring power.
What is it?
Long-term help If you need to let one or more people, called “lawyers”, make decisions for you, you can apply for permanent power of attorney for property and financial matters.
How you do that?
Create a permanent power of attorney and register it with theOffice of Public Guardian. You can do this yourself or with the help of a lawyer.
Please note: you must be at least 18 years of age and able to manage your own affairs when issuing your Enduring Power of Attorney.
Enduring Power of Attorney
What is it?
Long-term help so that one or more people, called "lawyers", can make decisions for you.
How you do that?
As of October 2007, it is no longer possible to create a new permanent power of attorney. However, if you set one up beforehand, you can still use it.Learn more at the Office of the Public Guardian.
Keep in mind:You must be at least 18 years of age and able to manage your own affairs at the time you grant your Perpetual Power of Attorney. Your attorney may act on your behalf once the permanent power of attorney is created, unless you specify otherwise in the permanent power of attorney document. Your attorneys should also be aware that if you lose the ability to manage your own affairs, it is your responsibility to register the permanent power of attorney.
Command of the deputy.
What is it?
Long-term help if you can no longer decide for yourself and have not hired a lawyer. This allows a court to appoint a proxy to take care of your finances, for example.
How you do that?
Your deputy, usually a close relative, friend or carer, must contact the protective court. Remember, there are rules about who, how, and what a proxy can do that you can findHere.
Powers of Attorney and Court Orders (if you live in Scotland)
The notarial power of attorney remains in place or is combined
What is it?
Long-term help If you need to let one or more people, called “lawyers”, make decisions for you, you can apply for permanent power of attorney for property and financial matters.
How you do that?
Create a continuous or combined power of attorney and register it in theOffice of Public Guardian. You can do this yourself or with the help of a lawyer.
Keep in mind:You must be over the age of 16, not in financial distress, and able to manage your own affairs when granting your continuing or combined power of attorney. Your solicitor may act on your behalf once the Combined or Continuing Power of Attorney has been created unless you direct otherwise.Learn more at the Office of the Public Guardian.
guardianship order
What is it?
Long-term help if you can no longer decide for yourself and have not hired a lawyer. This enables a court to appoint a guardian for you who will take care of your finances, among other things.
How you do that?
Your guardian – someone over the age of 16, usually a close relative, friend or carer, lawyer or local authority chief social worker – must submit an application to theprotective court.
Keep in mind:There are rules about who, how and what a guardian may do. Get more information aboutOffice of Public Guardian.
Powers of Attorney and Court Orders (if you live in Northern Ireland)
Enduring Power of Attorney
What is it?
Long-term help if you want one or more lawyers to handle your financial affairs. Your solicitor can act on your behalf now and in the future if you are unable to do so. You can add a permanent power of attorney to be used only when needed in the future.
How you do that?
Create a permanent power of attorney with the help of an attorney.
Keep in mind:Your attorney may act on your behalf once the permanent power of attorney is created, unless you specify otherwise in the permanent power of attorney. If you are no longer able to manage your affairs, your attorney must register your permanent power of attorney with the Office of Care and Protection (opens in new window) so that they can continue to act on your behalf.
control
What is it?
Long-term help if you can no longer decide for yourself and have not hired a lawyer. This allows a court to appoint a controller for you to take care of your finances, for example.
How you do that?
Your responsible person must submit an application to the Care and Protection Office (opens in a new window). The appointment is made by court order.
Keep in mind:There are rules about what a controller can do. More information can be found here. Will open in a new window.
Lawyers and controllers
How to add an attorney or controller to an account
If you would like to add an attorney or controller to your own account, or if your representative would like to add your appointment to the account, please call one of our offices or write to us along with:
- Original or certified copy of the solicitor's or auditor's document - we can certify that your copies are authentic and free of charge at the branch
- Details of the accounts you wish to add to the attorney or controller
- It may be helpful for attorneys to bring/provide photo identification and proof of address in the event that we are unable to identify them through our periodic electronic checks.
Or give us a call and we'll let you know what you need to send us.
useful contacts
You may find the following websites helpful as they provide more information on powers of attorney. You may also want to seek advice from your local Citizens Advice Bureau or solicitor:
The definition
Lawyer-The person authorized by power of attorney to act on behalf of the donor in financial or medical/health matters.
Building superintendent -A person assigned to look after another person in financial and health matters.
Permanent Power of Attorney (Scotland) -A legal document that allows an individual (founder) to appoint one or more individuals (attorneys) to act on their behalf.
Controller (Northern Ireland) –Appointed by the court to act on behalf of a person who is no longer of legal capacity.
court order -A judgment of a court or judge requiring a person to do or not to do something.
protective court -A court that makes decisions about financial or social matters for people who are unable to make decisions themselves at the right time.
Deputy -A person appointed by the Court of Protection to act on behalf of another person who cannot make decisions himself (England and Wales).
Give -A person who gives another person authority to act on their behalf in financial, medical, and health matters.
Perpetual Power of Attorney -A legal document designating one or more individuals (lawyers) to administer their affairs on behalf of the donor. (Please note: the permanent power of attorney in England and Wales was replaced by the permanent power of attorney in October 2007 and is no longer available. The permanent power of attorney is a current method of power of attorney in Northern Ireland.)
property -The assets, assets, and outstanding debts of a deceased person.
General power -A power of attorney that gives a person broad powers, usually to conduct all types of business on behalf of another person.
Granter (Scotland) -The person who gives another person power of attorney to act on their behalf in financial, medical and health matters (equivalent to donor in England and Wales).
Overseer (Scotland) -A person appointed by a court to make decisions about the care of another person.
Guardianship (Scotland) -A judicial process to determine if a person is legally incompetent and a guardian needs to be appointed to look after the person or their financial affairs.
Guardianship Order (Scotland) -A court appointment that authorizes one or more people to act and make decisions on behalf of another person.
Power of Attorney for Health and Wellness -A legal document that gives one person authority to act on behalf of another person in health and medical matters.
Disabled or incapacitated -The situation of being unable to perform an action or activity due to a physical or mental illness.
Permanent Power of Attorney (England and Wales) -A legal document designating one or more persons (lawyers) to act on behalf of another person.
Power of Attorney -Written confirmation from an individual authorizing the disclosure of information to a specified third party for a specified period of time or for a specified purpose. (Please note: this is an informal mechanism and does not allow the agent to transact or amend a contract.)
Office of Public Guardian –A government agency that protects people in England and Wales who may not be able to make decisions for themselves.
Power of Attorney(s) -A document that gives one person (lawyer) authority to act on behalf of another person (donor).
property and financial strength -A power of attorney that gives one person the authority to act on behalf of another person in financial matters.
Lawyer -A lawyer
solvent -Have enough to pay off your financial obligations and debts.
Mandate/Agreement/Third Party Agreement –A short-term arrangement whereby a person hires a third party to perform specific work on their behalf.
FAQs
Why would the bank deny the power of attorney? ›
A bank may reject a power of attorney if it is not correctly executed. A power of attorney is validly executed if signed by the principal in the presence of two witnesses before a notary under Florida Statute Section 709.21405.
What does power of attorney mean in personal finance? ›A financial power of attorney is a legal document that lets you appoint someone to manage your finances and property for you. These tasks could include paying bills, making bank deposits, collecting your insurance benefits, and more.
Can power of attorney withdraw from 401k? ›The power of attorney agreement specifies how far the agent's power extends – you can give the agent the power to pay your bills, mortgage, etc. but withhold the power to manage your 401k or other retirement accounts.
What are the liabilities of being a power of attorney? ›Does a POA Have Legal Liability? Legal liability for a power of attorney agent is limited. The agent will only be held responsible in cases of intentional misconduct. An agent will not be legally responsible if he or she does something wrong without knowing it.