Why you should consider a Lasting Power of Attorney

What are Lasting Powers of Attorney and why do I need them?

The Property and Financial Affairs Lasting Power of Attorney allows the person you appoint to make decisions on your behalf (known as your 'Attorney') to deal with all of your assets, such as your bank accounts, investments and savings as if they were you. This power is invaluable should you be unable to deal with these things yourself through incapacity, illness or disability.

The Health and Welfare Lasting Power of Attorney allows you to appoint somebody to make decisions regarding your diet, dress and where you live when you can no longer make them yourself. You also have the option to give your Attorney(s) the right to consent or refuse life-sustaining treatment. This is a significant power and if you have strong feelings about this then this Lasting Power of Attorney is the perfect way to ensure the right people make the most important decisions for you.

You can appoint up to four Attorneys to act on your behalf and you can choose whether your Attorneys have to make all decisions together or whether they can make decisions independently or together for some and independently for others. In summary, Lasting Powers of Attorney are an invaluable provision to have in place for your future. This is especially so if you own any assets in your sole name. If you were to lose your capacity to deal with your own affairs and you went into care and your family needed access to your funds to pay for your care, they would have to take the alternative route which is to apply to the court of Protection for a Deputy to be appointed for you.You can only make a Lasting Power of Attorney whilst you have mental capacity.

What is a Deputy?

Anybody can apply to the Court to be your Deputy. You would not get to choose who. The costs for this application can cost thousands of pounds and this would be payable from your funds. There are also ongoing annual supervision fees payable to the Court. The application generally takes between six months to a year which can cause a delay for your family as well as added stress and cost.

If you would like to discuss Lasting Powers of Attorney in further detail please contact Jennifer Howell, our legal expert at our Tattenhall Office.
Swayne Johnson Solicitors
The White House, High Street, Tattenhall, CH3 9PX

01829 700333

www.swaynejohnson.com
law@swaynejohnson.com