With authorisation (or Power of Attorney, PoA) one can decide who takes care of one’s matters and supervises one’s interests when one is not able to do so due to, for example, because of one’s illness or non-conscious state. One can be surprised that even a close relationship to a person does not automatically entitle one to take care of other person’s matters even if they are not able to cope themselves or have access to non-public information concerning the authorizing person.
One can include precise orders to the PoA regarding how one wishes one’s matters to be taken care of or how one wishes one’s property to be managed. One can also deny the authorised person not to take a certain action or require them to seek an approval to act in certain way (for example a sale of certain asset or assets). The PoA should always be tailored to the needs and wishes of the authorising person. Authorised person can be, for example, an adult child of the authorising person provided that they accept the task.
The original PoA must be stored carefully and government authorities can’t store it on one’s behalf. One can give the PoA to the authorised person or it can be kept in a trustworthy location like safe deposit box in a bank and ensure that the authorised person can access the PoA when needed.
The PoA can be drafted any time but recommended practice is to have it ready well before it is actually needed. Suffering a serious injury in an accident or of a memory illness may obstruct one to give the said authorisation. In worst case scenario, one may lose one’s capability to make legally binding decisions very fast. Authorisation can only be given by a person whom understands the content of the PoA and what it means.
One should notice that the PoA must always be done in writing and it has to fulfill certain formalities. For example, the PoA must be signed neutral witnesses. The witnesses must know that the document is a PoA but one is not obligated to inform the witnesses of the scope of the PoA.
The PoA can and should be updated if and when the circumstances change within time. The old PoA can be destroyed of one can have a new one drafted with a clause revoking the old one. When the PoA is needed, Digital and Population Data Services Agency must verify the PoA. The authorised person also needs a medical statement finding the authorising person incapable to take care of their personal matters.
One can draft a PoA by oneself but it is recommendable to have an expert draft it instead. If done in a do-it-yourself -method, the worst outcome may be that the PoA may not be verified for instance due to the use of unneutral witness or witnesses.
Jouni Aarnio
Associate
