Who will look after your affairs if you are longer able
to?
As much as you try not to think
about it you may sometimes find yourself thinking about what would happen if
you lose the ability to manage your own affairs.
By putting a Lasting Power of
Attorney (LPA) in place you can ensure that if this should happen your affairs
will be looked after by someone you know and trust.
If you don’t set up a LPA and are then deemed mentally incapable of running
your finances, your assets may frozen and it will be up to a court to decide who handles your affairs. The court may appoint a
Solicitor this process can take a long time and be very costly.
Lasting
Power of Attorney – a vital document
An
LPA is a legal document which allows you to choose someone now that you trust
to make decisions on your behalf about things such as your property and affairs
or personal welfare at a time in the future when you no longer wish to make
those decisions or you may lack the mental capacity to make those decisions
yourself.
A
Property and Financial Affairs LPA allows you to plan ahead by choosing one or
more people to make decisions on your behalf regarding your property and
financial affairs. You can appoint a property and affairs Attorney
to manage your finances and property whilst you still have the capacity as well
as when you lack the capacity. For example, it may be easier for you to give
someone the power to carry out tasks such as paying your bills or collecting
your benefits or other income. This might be easier for a lot of reasons;
you might find it difficult to get about or talk on the telephone, or you might
be out of the country for long periods of time. The decisions you could hand
over to your Attorney(s) could include paying your bills, collecting your
benefits or selling your house.
A
Personal Welfare and Health LPA allows you to plan ahead by choosing one or
more people to make decisions on your behalf regarding your personal healthcare
and welfare. These personal welfare decisions can only be taken by
somebody else when you lack the capacity to make them for yourself; for example
if you are unconscious or because of the onset of a condition such as
dementia.
You
can give the attorney the power to make decisions about any or all of your
personal welfare matters, including healthcare matters. This could involve some
significant decisions such as giving or refusing consent to particular types of
health care; whether you continue to live in your own home, perhaps with help
and support from social services, or whether residential care would be more
appropriate for you.
Bicester
Wills is highly experienced in preparing Lasting Powers of Attorney for clients
with a variety of requirements and expectations. For more information or to set
up a Lasting Power of Attorney contact Gail Church on 01869 244329 or gail@bicesterwills.co.uk.
