Nobody likes to think of a time when they are unable to make decisions for themselves. Unfortunately, however, we can never predict what the future holds for us!
By making Lasting Powers of Attorney, you decide what happens if there ever comes a time when you require assistance with dealing with your financial and health issues.
This document is like an ‘insurance policy’, you might never need it but it’s there and documents your wishes if it is required i.e. if you lose capacity or end up in hospital for a considerable amount of time and unable to carry out your day to day financial or other affairs.
What is a lasting power of attorney?
A Lasting Power of Attorney is a legal document that allows you to appoint a person or people that you trust to either assist you in making or make those decisions on your behalf. That trusted person or persons that you choose are known as ‘Attorney(s)’.
There are two types of Lasting Powers of Attorney:
Financial Decisions Lasting Power of Attorney
This document enables your Attorney(s) to assist you and help you to make decisions in relation to your property and financial affairs when you are no longer to make those decisions yourself or feel that you need additional support. This document may be used as soon as it has been registered with the Office of the Public Guardian.
Health & Care Lasting Power of Attorney
This document enables your Attorney(s) to make decisions about social care and medical matters. This includes life-sustaining treatment. This document is different to the Lasting Power of Attorney for Finances, in that it may only be used if unfortunately, you are unable to make or understand such decisions yourself.
Is there an alternative?
If a loved one loses the capacity to make their own decisions, they may need somebody to step in. This person is called a ‘Deputy’.
Nobody can predict if and when we fall ill and not everybody will have put in place a Lasting Power of Attorney to deal with such an event.
This is where Barker Booth & Eastwood is experienced in advising loved ones on how to make an Application to what is called the ‘Court of Protection’.
The Court will then sanction the appointment of a nominated person(s) to make decisions for the person who has lost capacity.
This can become an expensive and extremely lengthy procedure and therefore, we advise the best option is to plan ahead for your future and choose the people you want and trust to deal with your decisions i.e. put in place Lasting Powers of Attorney
If you wish to have an informal chat or have any further questions regarding these documents, please do not hesitate to email us at sr@bbelaw.co.uk or telephone to speak to one of our dedicated and no jargon Team!
