More and more people are taking the step of arranging a power of attorney in Belgium. But what does it do, and why is it becoming more popular?
A power of attorney is often grouped with wills and other end-of-life services. Generally, it is assumed to be something for the elderly. However, arranging such a document can be useful for people of younger generations too. It allows protection if an accident or illness results in them no longer being able to manage their assets themselves.
"You can appoint one or more people to manage your bank accounts, pay your bills, collect your pension or receive your registered letters, for example," Notary Joni Soutaer, spokesperson for Notaris.be, said.
"With a power of attorney, you can also give certain instructions regarding a sale or a donation. That way, your assets are not blocked by the fact that you are no longer able to exercise your will." It is also a tool for care planning, allowing people to specify in advance which retirement or care home they want to stay in, if this is necessary.
The responsibility is most likely to be granted to the partner or to one or more children. If nothing is arranged in advance through a care proxy, an administrator will manage the assets.
Doubled in five years
The number of these letters concluded in Belgium has dramatically increased in recent years. Across the country, the figure rose from 54,117 in 2019 to 122,734 in 2024. Between 2023 and 2024, the number increased by more than a fifth, figures from the Federation of Notaries (Fednot) showed.
Flanders led the way in terms of the number of healthcare proxies, but popularity has now increased in the three regions.
"We note that the power of attorney is becoming more and more known to the public every year," Soutaer told The Brussels Times. "This is not just the case among citizens, but also among external services."
She explained that many clients coming to notaries to conclude such a document are sent by their bank, the nursing home or by the GP. "They say that those agencies often ask, quite early on too, whether they arranged the power of attorney." This explains why more and more people are aware of this document and the importance of it.
Those who drew up a power of attorney in 2024 were on average 72 years old compared to 74 five years ago. "People are applying at a younger age," said Soutaer.
Especially entrepreneurs are becoming more aware of the importance of having a power of attorney. "They are now asking themselves: if I'm suddenly no longer around, who will take over the company?"
Single people, divorced people and couples who had a child without being married are also considering taking this step. "They often say, if my child is still a minor, who will manage my assets if something were to happen to me and my mind?"
