It is often said that statistics do not lie, and it is a fact that Finland's population is ageing rapidly. As the population ages, the need to take care of things increases as people's capacity to function declines. For many Finns, traditional guardianship is a familiar way of dealing with incapacity, but the power of attorney, which has been in law for 15 years, remains less familiar to many.
What is a declaration of interest?
A power of attorney is, in short, an authorisation given to a trustee in a power of attorney to act on behalf of the principal, i.e. a letter of interest when he or she is no longer able to do so due to illness or other reasons. The power of attorney may authorise the authorised representative to manage the financial affairs of the authorised representative and matters relating to social welfare and health care.
The power of representation is strongly linked to the right to self-determination, which is the right to influence decisions that affect you. The power of attorney is an excellent way of safeguarding self-determination in advance, as it allows a person to express clearly how he or she wants things to be in the future. The content of the power of attorney can be tailored to the wishes of the person granting it.
Without a power of attorney, guardianship is organised in accordance with the Guardianship Act. In this case, the person may be subject to public guardianship. Although everyone in Finland has the right to guardianship, the workload of public guardians can be considerable. In the metropolitan area, for example, one guardian may have to deal with hundreds of clients, which makes individual supervision difficult. A member of a close relative may also be appointed as guardian, but in this case the rights and obligations of the guardian are directly determined by law. A power of attorney is a way of avoiding unnecessary bureaucracy and ensuring individualised guardianship.
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A power of attorney is a legal, formal document, so expert assistance is recommended. According to statistics from the Office for Digital and Population Information, around 20% of guardianship documents are not validated due to errors. If a power of attorney cannot be validated because of formal errors, it may be impossible to draw up a new power of attorney, for example because of a progressive memory impairment. It is therefore worth investing in the drafting of a power of attorney in good time.
The expert can also give advice on situations that you might not have thought of yourself. For example, do you know whether a delegate can donate the delegate's property, or when a delegate is not qualified to manage the delegate's affairs? These are things to anticipate
A declaration of interests is undoubtedly an important document. It is always worth drawing it up. Anticipation is wise, it makes life easier and safer for you and your loved ones.
Article written by a lawyer Santeri Valkamo. You can always call him free of charge on 010 299 5090. You can check our price list Here.
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