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Last updated:
20/11/2017

Can someone else manage my money for me?

What is Continuing Power of Attorney?

  1. Overview
  2. Understanding your options
  3. Speaking on my behalf
  4. Joint Account Holders
  5. Claiming benefits
  6. Tax credits
  7. What is Continuing Power of Attorney?
  8. Which bills are most important to pay first?
  9. Other Options Available
  10. Next steps

Continuing Power of Attorney

If your mental health fluctuates and you are worried that at some point in the future you might lose capacity to make decisions about money, even if just for a temporary period, you can set up a Continuing Power of Attorney (CPoA) You can only do this when you have the capacity to make the decision. You can give this Power to a carer, friend or relative. It is a formal legal document that gives the power to manage your property and financial affairs to someone you trust.

 

You can give this Power to a carer, friend or relative. It is a formal legal document that gives the power to manage your property and financial affairs to someone you trust.

You will need a solicitor to set up a CPoA. You can find more information on the Law Society for Scotland website.

When considering a CPoA, here are some further points to consider:

  • If you are drawing up the CPoA, you can appoint any person or persons you trust,
  • The powers granted can be flexible or specific – whatever you choose,
  • If your mental capacity fluctuates, the powers can be brought into effect when needed and given up again when you regain capacity; but you will need to think about how you and the person you are granting the CPoA to, will determine when the point of incapacity is reached,
  • This point of incapacity should be discussed to avoid future disagreement, and
  • The CPoA is supervised by the Office of the Public Guardian who must be informed of any changes.

There are fees to pay. There may be help towards the costs and you can contact the staff on the legal aid information line.

If you make someone a CPoA, there is no provision for them to claim expenses.

Legal Aid Information Line

0845 122 8686. 

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Within this subject

  1. Overview
  2. Understanding your options
  3. Speaking on my behalf
  4. Joint Account Holders
  5. Claiming benefits
  6. Tax credits
  7. What is Continuing Power of Attorney?
  8. Which bills are most important to pay first?
  9. Other Options Available
  10. Next steps
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