No one likes to think that they may lose mental capacity but it is a sad fact that many people do. A Lasting Power of Attorney (LPA), is the only sure way to protect your financial and medical affairs from being decided by a stranger.
"Millions of us are failing to protect our financial well-being should we no longer be able to cope"
Kate Hughes of the Independent - Read the full report
Being diagnosed with a serious illness is everybody's worst fear. If that illness is progressive you may only have a short time to address practical issues before symptoms take hold. Worse, if the incapacity is the result of an accident it is too late for you to do so. In this situation family members would have to apply to the Court of Protection to act on your behalf.
"Secret Court seizes £3.2bn from elderly... and even forces furious families to pay to access own bank account".
Jason Lewis, Mail on Sunday - Read the full report
In the following 3 minute video from the BBC's 'The One Show', Dominic Littlewood talks to Heather Bateman about her experiences:
Making a Lasting Power of Attorney (LPA) is the only certain way to protect your interests in these circumstances. The Mental Capacity Act 2005 came into effect from October 1st 2007, with the Lasting Power of Attorney replacing the old Enduring Power of Attorney. If you make this document in advance of any mental incapacity you can name who you wish to become your Attorneys, and the reaches and limitations of the powers that you want them to have.
Property and Financial Affairs. This LPA permits the attorneys you choose to look after your financial affairs when you are no longer able, but not your personal affairs. Health and Welfare. This LPA permits your attorneys to act for you in respect of your personal affairs and welfare, but not your financial affairs.
Health and Welfare. This LPA permits your attorneys to act for you in respect of your personal affairs and welfare, but not your financial affairs.
You are free to make them both together, or you may opt for just one at this stage. We would suggest the Property & Financial Affairs version as a minimum. Once these LPA's are produced they need to be registered with the Office of the Public Guardian before they can be used.
Please get in touch with us now to arrange a FREE consultation to discuss a Lasting Power of Attorney.
Elite Wills & Estate Planning LLP (Partnership Number OC380425) is a Member of the MASTER GUILD OF WILL WRITERS.