Lasting Powers of Attorney
What is a Lasting Power of Attorney?
A Lasting Power of Attorney is a legal document in which you can appoint a person or persons of your choice to look after your affairs or make decisions for you if you are unable to do so for yourself.
Types of Lasting Powers of Attorney
There are two types of Lasting Powers of Attorney:
1. Property & Financial Affairs
In a Property & Financial Affairs Power of Attorney you may appoint as many people as you wish to administer your property and your affairs. You may give to your Attorneys as much power as you wish or as little power as you wish. However, as a Lasting Power of Attorney cannot be altered once it has been prepared, then it is advisable to give to your Attorneys as wider power as possible. You may place restrictions or conditions upon what your Attorneys can do for you. You may appoint your Attorneys to act jointly, which means that they must all decide on whatever decisions need to be made for you or you may appoint them to make decisions individually on your behalf or a mixture thereof. You may place conditions upon what your Attorneys can do and you may also give guidance to your Attorneys.
2. Health & Welfare
A Health & Welfare Lasting Power of Attorney is a separate document to the Property & Financial Affairs Lasting Power of Attorney. In a Health & Welfare Lasting Power of Attorney you may again appoint as many people as you wish to be your Attorneys. You may give to your Attorneys power to make decisions concerning your future care and concerning your future treatment. Your Attorneys may select a Care Home for you or indeed arrange a care package for you in your own home. If you wish you may give to your Attorneys power to discontinue or indeed continue life sustaining treatment on your behalf. As with the Property & Financial Affairs Lasting Power of Attorney you may also place restrictions and conditions upon what your Attorneys can do and give guidance to your Attorneys.
Why should I make a Lasting Power of Attorney?
None of us know what is going to happen to us. We may suffer a stroke or be injured in an accident which impairs our judgment or ability to make our own decisions. We may also begin to suffer from Alzheimer’s or Dementia. We may quite simply wish to take a long holiday. If any of the above events happen without a Lasting Power of Attorney, other than in limited circumstances, nobody has authority to make decisions on our behalf. By appointing Attorneys you are putting in place provision for decisions to be made on your behalf and for your affairs to be administered. If you run a business you may also make provision for your Attorneys to run your business for so long as you are unable to do so. This is a vital requirement for any business person. If you do not make a Lasting Power of Attorney and become unable to manage your affairs, then in the short to medium term there will be nobody with the ability to pay your bills or to manage your finances. In the long term a Deputy would be appointed at the Court of Protection who may be a person known to you who you do not trust or, alternatively, it may be a professional person unknown to you. Additional costs will also be incurred if a Deputy is appointed by the Court of Protection.
How do I draw up a Lasting Power of Attorney?
At Vincents we have an expert team who can prepare the documentation for you, obtain your approval to it and your signature. There are a number of stages to preparing a Lasting Power of Attorney and specific requirements for each stage. We can assist you through each stage and through the requirements.
We aim at Vincents to provide an efficient cost effective service and will discuss with you the costs of preparing Lasting Powers of Attorney prior to commencing work on your behalf.
If you wish to contact a member of our team to discuss preparing a Lasting Power of Attorney please telephone us free of charge on 0800 310 2000 or you can make an initial enquiry regarding making a Lasting Power of Attorney by completing our online enquiry form at the bottom of this page.
For any enquiries regarding
Lasting Powers of Attorney
please contact our
Wills and Probate Solicitors
01772 555 176