Examples of decisions it can cover
Government guidance lists managing bank or building society accounts, paying bills, collecting benefits or a pension and selling the donor's home among the common examples.
The exact authority depends on the registered document and any valid instructions or restrictions in it.
When can attorneys start acting?
Unlike health and welfare, this type can in some circumstances be used while the donor still has mental capacity. Current guidance says this requires the document to allow it and the donor to give permission.
Otherwise the attorneys act when the donor no longer has capacity to make the relevant financial decision.
Choosing a suitable attorney
Consider how trustworthy and organised the person is, how well they manage their own affairs and whether they understand the responsibility involved.
A person who is bankrupt or subject to a debt relief order cannot act as an attorney for property and financial affairs while that restriction applies.
Property and finances are separate from health and welfare
A property and financial affairs attorney does not automatically receive authority over medical treatment, care or daily routine.
If you want trusted people to cover those decisions too, health and welfare is a separate lasting power of attorney.
Common questions
Questions people ask about this
Can an attorney pay my bills?
Yes, paying bills is one of the common financial decisions this type can cover, subject to the terms of the registered document.
Can it be used before I lose capacity?
It may be used once registered if the document allows this and you give permission.
Does it cover medical decisions?
No. Medical and personal welfare decisions require a health and welfare lasting power of attorney.
Official guidance used for this guide
We use current Office of the Public Guardian and GOV.UK guidance as the primary reference for legal and registration information.
General information for England and Wales, not individual legal advice. Government rules, fees and processing times can change. Check current official guidance before registration.