Future Protection Mandate
Definition
A future protection mandate is a legal arrangement that allows an individual to plan ahead for a possible loss of autonomy by appointing one or more persons in advance to look after them and manage all or part of their affairs. The mandate takes effect when a medically certified impairment of the individual's capacities prevents them from managing their own affairs. In Private Banking, it is an essential tool for wealth protection planning and continuity of asset management.
Why set up a Future Protection Mandate ?
A future protection mandate allows individuals to:
Anticipate the consequences of a loss of autonomy.
Freely choose one or more persons to represent and assist them.
Clearly define the scope of the mandatary’s role and powers.
Ensure continuity in the management of financial and wealth-related matters.
Avoid or limit, in certain circumstances, the need for more restrictive court-imposed protective measures.
Tailor the protection arrangement to their personal and family circumstances.
Key features of a future mandate
| Element | Description |
|---|---|
| Principal (Mandator) | The individual who arranges their own future protection in advance. |
| Purpose of the Mandate | Protection of the individual, management of their assets and financial interests, or both. |
| Activation | The mandate becomes effective once the impairment of the individual's capacities has been medically certified. |
| Scope of Powers | Determined freely by the principal within the limits of the applicable legal framework. |
| Amendment | The mandate may be amended or revoked as long as it has not yet come into effect. |
The Importance of Planning Ahead
A Future Protection Mandate makes it possible to organize in advance the protection of personal and financial interests in the event of vulnerability or diminished capacity. By establishing a framework defined by the individual themselves, it helps ensure continuity in wealth management, secures important decisions, and provides greater peace of mind for both the individual and their loved ones.