1. You can appoint someone, or a number of people to look after your affairs if you become unable.
2. Should you need help with your financial matters but still have capacity, then your attorneys can assist you provided you specify in the Lasting Power of Attorney (LPA).
3. Under the Property and Financial Affairs LPA, your attorneys can pay your bills, buy or sell property for you, pay your mortgage and maintain your property. These powers are only activated when you have lost capacity.
4. Under a Health and Welfare LPA, your attorneys can make decisions such as where you live, what treatment you receive, what you wear, who you see and what you eat. These powers are only activated when you have lost capacity.
5. If you have lost capacity, you can allow your attorneys to also make life sustaining treatment decisions for you under the health and welfare LPA.
6. Without a Lasting Power of Attorney in place, your family will not be able to assist you as there is no such legal concept as next of kin.
7. If you have not made a Lasting Power of Attorney and lose mental capacity, then an application will have to be made to the Court of Protection to appoint a deputy which can take a considerable amount of time.
8. An application for a deputyship will cost considerably more in legal and court fees and as a deputy, you are monitored by the Court of Protection. Accounts must be rendered every year and fees such as security bond, assessment and supervision fees will need to be paid by the deputy from the incapacitated person’s assets. Making LPAs whilst you still have capacity will save money in the long term should you lose capacity.
9. Making LPAs will save your loved ones from unnecessary difficulty and distress should you lose capacity because without it, they will not have the authority to help you.
10. You have peace of mind for the future.
I offer FREE initial consultations, so if you need advice on Lasting Powers of Attorney, call me on 01299 549540 or email info@thewillwritinggroup.co.uk