3. Learn what can happen if you do not have a Power of Attorney

Making a Power of Attorney for Property lets you choose someone you trust to look after your money and property.

Guided Pathway to make a power of attorney

Make or cancel a power of attorney.

If you do not have a Power of Attorney for Property and become mentally incapable 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 mentally capable 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 Guardian of Property.
• Someone could arrange to have you assessed by a capacity assessor. 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 do not manage your property properly.