As we get older, we may require some help and assistance with our personal affairs. It is often assumed that our family have automatic permission and the right to deal with matters on our behalf and often it is a shock to the family when they find out from the bank or the hospital that this is not necessarily the case.
In such circumstances it is essential to have a Lasting Power of Attorney in place. A Lasting Power of Attorney is essentially a document which provides permission to a person or people of your choice to step into your shoes should you become physically or mentally incapacitated in the future. It ensures that if you are not able to look after your own affairs then somebody of your choosing can do so on your behalf. It is similar to an insurance policy in that whilst we do not plan to lose capacity having the a Lasting Power of Attorney already in place ensures that we have the peace of mind that our family will be able to look after things on our behalf should we be unable to do so.
There are two types of Lasting Power of Attorney.
- The first relates to property and financial affairs which means dealing with your monies and your home. This will allow your Attorneys to pay bills on your behalf, pay care fees, sell property and deal with your investments.
- The second type of Lasting Power of Attorney relates to personal welfare and in particular gives permission to your Attorneys to give or refuse life sustaining treatment on your behalf should you be in hospital as well as providing consent to an operation were you are unable to provide the necessary consent yourself.
You can read more about Powers of Attorney on the UK Care Guide website.
In order to enter into a Lasting power of Attorney, it is essential that you are able to understand its implications. It is therefore crucial that the Lasting Power of Attorney is made whilst you are of sound mind so it is never too early to consider putting one in place.
Please contact one of our expert team listed below who will be happy to talk you through the process of preparing a Lasting Power of Attorney and registering this on your behalf with the Office of the Public Guardian so that it is ready to use if necessary in the future.