They save families money and heartache - so why don't more people have Lasting Powers of Attorney?
Thousands of families are running up costly legal bills to handle the financial affairs of mentally or physically incapable relatives that could be avoided through Lasting Powers of Attorney.
More than 11,500 families every year are having to go to court to appoint 'deputies' so relatives and friends can make decisions on behalf of ill or incapacitated people.
This could be avoided by the person applying for a Lasting Power of Attorney whilst they are still healthy, saving their family from going through the long, arduous and expensive process of applying to the Court of Protection for a deputy to be appointed.
Peace of mind: Giving a person or persons of your choice power under a Lasting Power of Attorney can head off lengthy and costly court procedures further down the line.
Why should I get a Lasting Power of Attorney?
If the worst should happen and you develop a condition, such as dementia, or have a sudden accident that renders you incapable of making your own decisions, then you will want to have someone you know to have the legal power to make financial, property and health decisions on your behalf. Most people think that their spouse or partner will be able to make those decisions for them if necessary but this is not the case. Financial institutions and other organisations will insist on having sight of a legal document which grants authority to act. This could be either a Lasting Power of Attorney or an Order of the Court.
Through a Lasting Power of Attorney, you can set out how you wish your Attorney(s) to handle your financial affairs and ensure that you get the care, treatment and day-to-day routine that you want.
And because you have to be healthy when you apply for a Lasting Power of Attorney, you get to select the people who will be in charge of your affairs.
With no Lasting Power of Attorney if your family has to go to the Court of Protection, then you will have no say in who is appointed as a 'deputy' to act on your behalf because, by this time, you're already likely to be considered incapable of making your own decisions.
What's more, the Court may well limit the amount of power your family or friends get over your affairs, or could insist that they must be deputies acting alongside a solicitor. In that case the solicitor’s charges would be paid from your money.
Avoid taking any risks with your future and put Lasting Powers of Attorney in place now whilst you can.
“Having a Lasting Power of Attorney should be as common and natural as making a Will”
Jack Straw, former Lord Chancellor
For more information on Lasting Powers of Attorney contact:
Gary Taylor
Director
Progressive Wills Ltd.
Tel : 07543238543
Email : [email protected]
Progressive Wills Ltd makes the process of making a will as convenient and easy as possible. Our experienced consultant is fully trained in Wills Probate Powers Of Attorney Trusts and Court Of…
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