If you are fit and healthy, have lots of loved ones and you've already made a Will do you really need to put Lasting Power of Attorney into place?
The answer is most definitely YES!
You may feel that because you are healthy and have full capacity that Lasting Power of Attorney isn't something you are ready to do yet!
The sad news is that mental or physical capacity can be diminished very quickly, once capacity is lost it is then too late for a person to put Lasting Power of Attorney in place themselves, which then leaves their families and loved ones having to apply to the Court of Protection for control of their estate including current bank accounts.
When someone loses capacity it is often due to being diagnosed with Dementia or Alzheimer's, the sad truth is that according to research 1 in 3 people will eventually be diagnosed with one of these diseases. Once a person is diagnosed it is a duty of care of their doctor to inform the Court of Protection.
This is not the only way people lose capacity, if a person has an accident or suffers a major stroke capacity can be affected, and with this there is no warning. If Lasting Power of Attorney has not been put into place already once again the family will have to deal with the Court of Protection.
The Court of Protection was created under the Mental Health Act 2005. It is their responsibility to decide if a person has the mental capacity to make decisions for themselves. Along with other responsibilities they can appoint deputies to make ongoing decisions for people who have lost capacity. To apply to the Courts for deputyship of a loves one’s estate it is not only a lengthy process, it is also a very costly process with the average cost in excess of £10,000 which is something most people would want to protect their families from.
So if you are fit, healthy, have lots of loved ones and you've already made a Will and you are the type of person that likes to make their own decisions, then putting Lasting Power of Attorney in place is the best decision you can make today. The Will Associates can help you. Call us today on 0800 9500 700 for a free, no-obligation appointment with one of our highly-trained consultants in the comfort of your own home at a time convenient for you.