LASTING POWERS OF ATTORNEY
Most of us assume that, should we lose mental capacity and cannot act for ourselves, then our loved ones will automatically take over our affairs on our behalf.
This is simply not the case.
To protect those who have lost capacity, the Government passed the Mental Capacity Act of 2005 which introduced Lasting Powers of Attorney.
Lasting Powers of Attorney are legal documents which name who want to look after your affairs should mental capacity be lost. To cover future events up to four Attorneys can be named.
There are two types of Lasting Power of Attorney - Property & Financial Affairs and Health & Welfare.
People of all ages do lose the mental capacity for a variety of reasons - accident, illness, dementia, etc.
There are serious consequences for you and your family should you lose capacity and not have a Lasting Power of Attorney in place.
Property & Financial Affairs
There is a body called the Court of Protection who have the power to assume control of your property and finances should you lose capacity. They can freeze all of your assets including joint bank accounts and investments. This means that your family cannot access your income or savings, even if they depend on you to pay the bills.
Your family will have to apply to the Court of Protection to become a Deputy. This is an expensive, time-consuming process and your family is always answerable to the Court of Protection. This is not necessary if you have taken the prudent decision to have a Lasting Power of Attorney in place. Health & Welfare
In many ways, the Health & Welfare Lasting Power of Attorney is the most important Lasting Power of Attorney as there is no second chance once capacity has been lost.
Decisions made by Social Services, Doctors, Local Authorities can be made without your wishes being taken into account. Even your families concerns can be overlooked. Decisions about where you live, what treatment you have and how you are looked after can all be taken out of your families hands - unless you have the Lasting Power of Attorney in place.
With the Health & Welfare Lasting Power of Attorney, you can also choose whether you want your Attorneys to make decisions on life-sustaining treatment. How Can The Will Associates Help Me?
The Will Associates is one of the leading companies in the country offering specific advice around estate planning. We are a National company with a dedicated legal team in our head office who are specialists in their field.
We have a team of consultants around the country to offer advice in the comfort of your own home at a time to suit you.
Don't delay. Contact us now by calling The Will Associates
on 0800 9500 700
to arrange free, no obligation consultation at a time convenient to you and your loved ones, in the comfort of your own home.