Do I need a Power of Attorney for Property?
Question & AnswerDo I need a Power of Attorney for Property?
3. Learn what can happen if you don’t have a Power of Attorney
Making a lets you choose someone you trust to look after your money and property.
If you don't have a Power of Attorney for Property and become of managing your money and property, one of the following may happen:
- You may be able to make a Power of Attorney for Property. Even if you're not capable of managing your property, you might still be of making a Power of Attorney for Property. If you want to do this, try to get legal help.
- Someone could go to court and ask to be appointed to manage your property as your .
- Someone could arrange to have you assessed by a . If the capacity assessor finds that you're not capable of managing your property, they tell the Office of the Public Guardian and Trustee (PGT). The PGT then becomes your Statutory Guardian and has the power to make all property decisions for you. Your family, friends, or someone else can apply to take over those powers from the PGT. They have to send the PGT a plan for how they'll manage your property and may also have to post a surety bond. A bond is an amount of money that person promises to pay if they don't manage your property properly.