Title: Securing Financial Wellbeing with Power of Attorney in Glasgow
1Securing Financial Wellbeing with Power of
Attorney in Glasgow
ILAWS SCOTLAND, Midholm House, 2 Hillview Drive,
Clarkston, Glasgow, G76 7JD
2INTRODUCTION
- Brief overview of financial complexity in
Glasgow. - Definition of Power of Attorney (POA) as a legal
document granting decision-making authority. - Importance of POA in safeguarding financial
decisions.
3WHAT IS A POWER OF ATTORNEY?
- A Power of Attorney is a legal document that
grants one or more people the authority to make
decisions on your behalf. - Types of POA
- Continuing POA Lets your attorney manage your
financial affairs (banking, investments, property
transactions, tax and bill handling). - Welfare POA Covers health and personal welfare
decisions. Financial wellbeing can influence
personal welfare, hence integrating both types is
beneficial.
4IMPORTANCE OF POA IN GLASGOW
- Continuity in Financial Management Ensuring
seamless financial commitments in a dynamic city. - Protection Against Financial Vulnerability
Shielding against exploitation or poor decisions
in times of vulnerability. - Strategic Financial Planning Aligning decisions
with long-term financial goals.
5IMPORTANCE OF POA FOR FINANCIAL IN GLASGOW
- Continuity in Financial Management Ensuring
seamless financial commitments in a dynamic city. - Protection Against Financial Vulnerability
Shielding against exploitation or poor decisions
in times of vulnerability. - Strategic Financial Planning Aligning decisions
with long-term financial goals.
6WHO SHOULD YOU CHOOSE AS YOUR ATTORNEY?
- Financial Acumen Importance of financial
understanding or consultation. - Trustworthiness Emphasis on integrity and
honesty. - Understanding Your Financial Goals Alignment
with personal financial objectives.
7SETTING UP A POWER OF ATTORNEY IN GLASGOW
- Consultation with Professionals Guidance from
organizations like iLaws Scotland. - Drafting and Signing the Document Importance of
careful drafting and legal witnessing. - Registration Necessity of registration with the
Office of the Public Guardian in Scotland.
8REAL-LIFE BENEFITS OF HAVING A POWER OF ATTORNEY
- Consider a scenario where a Glasgow resident who
owns a mix of assets, including property and
stocks, suffers a sudden illness. - A previously established POA allows their
financial affairs to continue running smoothly,
with their attorney making strategic decisions
that protect both their assets and their future
economic stability.
9CONCLUSION
- Protect your financial assets
- Ensure continuity of financial goals
- Vital step for Glasgow residents
- Contact iLaws Scotland for assistance
10Thank you!
SECURING FINANCIAL WELLBEING WITH POWER OF
ATTORNEY IN GLASGOW
Official Email info_at_ilawsscotland.co.uk Official
Contact No. 0800 049 9688
ILAWS SCOTLAND, Midholm House, 2 Hillview Drive,
Clarkston, Glasgow, G76 7JD