Thinking about the future – Plan Ahead!
It is a proven fact that sadly in the UK one person every three minutes develops dementia. Many of us will be affected by a physical or mental incapacity as some stage in our lives. Should this occur; Who will deal with your property and finances? Who will deal with your personal welfare?
If you wish a particular person/relative to look after your affairs for a long period of time you can grant them a Lasting Power of Attorney (LPA) and they will become your Attorneys. Any person over the age of 18 can make an LPA to cover such eventualities.
Consider who you trust to carry out this role
You may appoint more than one Attorney should you wish and even appoint replacement Attorneys. An LPA is a legal document which will enable your Attorneys to make decisions for you should you not be able to do so yourself.
There are two different types of LPAs, one for Property and Financial Affairs and one for Health and Welfare. A Property and Financial Affairs Attorney can deal with opening and closing bank accounts, paying bills, buying, selling and maintaining property. A Health and Welfare Attorney can make decisions such as where you should live, what medical treatment you will require.
Unless an LPA is put in place, an application will need to be made to the Court of Protection for a Deputy to act on your behalf. This process is not only costly, but the process is very time consuming and complex. So, whilst we all want to think about today, let’s take a little time to plan ahead!
If you would like to discuss your requirements for a Lasting Power of Attorney we have a dedicated team available to speak to you, simply fill in the contact form blow, call us on 0330 123 1131 or visit: www.newboldsolicitors.com/services/wills-probate/power-of-attorney/
Kate Alford - Legal Executive