Lasting Powers of Attorney
As many now live longer more people are having Lasting Powers of Attorney prepared so that a relative or close friend can make decisions on their behalf if they lose mental capacity. People can lose mental capacity at any age due to accident or illness but it is more common in your later years especially if you suffer from Alzheimer’s Disease, stroke or similar illnesses.
There are two types of Lasting Power of Attorney. One deals with property and financial matters and covers decisions about paying bills, applying for Welfare Benefits, dealing with care home fees, investing savings and buying or selling property. The other type deals with health and welfare issues such as what treatment, care or medication you should receive and where you wish to live.
You can give guidance or put restrictions on how the person should use the Lasting Power of Attorney if you wish to do so. It is advisable for the Lasting Power of Attorney to be notified to at least on other person and it then registered at the Office of the Public Guardian. The financial Lasting Power of Attorney can take effect once registered but the person dealing with your matters i.e. the Attorney has to consult you about any decisions. The Attorney is legally required to act in your best interest at all times. The Health and Welfare Lasting Power of Attorney can only take effect if you have lost mental capacity.
Lasting Powers of Attorney are dearer than the previous Enduring Powers of Attorney as the form is longer and they have to registered before they are valid. However, they are cheaper and easier than applying to the Court of Protection which is the procedure required if the person has already lost mental capacity.
If you have any queries or wish to make an appointment please contact us via the enquiry form (right) or call/e-mail Stephen direct.