Nobody knows what the future holds. An illness or an accident can prevent us from managing our own affairs. A lasting power of attorney (poder preventivo) lets you decide today, while you have full capacity, who will represent you if that moment comes.
What is a lasting power of attorney?
It is a power of attorney granted before a notary in favour of one or more trusted people so that they can act on your behalf, and which remains valid even if you need support in the future. It can be set up in two ways:
- With immediate effect, continuing if you later lose capacity.
- Taking effect only from that moment, in the manner you specify.
What is it for?
- Managing bank accounts, paying bills and collecting pensions or income.
- Managing or, if provided for, selling property, for example to pay for a care home.
- Dealing with public authorities, insurers or banks.
- Making decisions about personal care, if included in the power.
Advantages
- It avoids lengthy court proceedings to appoint someone to represent you.
- You choose the person and set the limits of their powers, as well as any safeguards you wish (reporting obligations, two attorneys acting jointly, etc.).
- It can be revoked or amended at any time while you retain capacity.
How is it granted?
Simply come to the notary’s office with your ID or passport and the details of your chosen attorneys. The notary checks that you understand the scope of the power, drafts the document according to your instructions and notifies the Civil Registry.
It should not be confused with an advance healthcare directive (documento de voluntades anticipadas), which sets out your wishes about medical treatment. The two documents complement each other.
Talk to us
We will explain which options best suit your family and financial situation.