What is a Lasting Power of Attorney?
Mental and physical incapacity can become a reality at any point in your life. A Lasting Power of Attorney is a legal document, recognised by financial institutions, which give your nominated attorneys the power to manage your affairs on your behalf. This can be limited to Property and Financial Affairs, Health and Welfare, or both.
Lasting Powers of Attorney do not mean that someone has total control over you. You can limit when the attorneys can act, for example only when you have lost capacity.
What if I don’t make a Lasting Power of Attorney?
It is too late to create a Lasting Power of Attorney once you have lost mental capacity. If this happens, and you have not made a Lasting Power of Attorney, your assets will be inaccessible, and your loved ones will face a lengthy and costly application to become your Deputy through the Court of Protection. It is also important to note that the Court of Protection may choose to appoint a Deputy who is not a family member or friend.
When should I make a Lasting Power of Attorney?
They are not just for the elderly, you can become incapacitated at any time, and you should especially consider a Lasting Power of Attorney if you have young children or property.
What if I am an attorney?
The guidelines for acting as an attorney are contained within the Mental Capacity Act 2005 Code of Practice. We also offer a free leaflet with advice for people acting as an attorney.
For more information, or advice on whether you should consider a Lasting Power of Attorney, please contact Linda Tomsett. Alternatively, call into the office and Linda will be happy to talk you through the process.
Telephone: 01273 561312