When people become unable to look after their own affairs, they generally want those closest to them to look after their affairs on their behalf.
People often assume that this is an automatic right, even if they, for example, have savings or investments in their sole name. But this is not necessarily the case and where no representatives (attorneys) are pre-appointed, they may have to apply to the Court of Protection. Sometimes the court will appoint a court official instead of a person’s relatives.
Click here to read the story of Heather Bateman and why this should be avoided at all cost.
So what is the solution?
A Lasting Power of Attorney is a legal document that lets you (the ‘donor’) appoint people (known as ‘attorneys’) to make decisions on your behalf should you become unable to make your own. There are 2 types of lasting power of attorney:
Health and Welfare
This allows you to choose one person or more to make decisions about things like
- your daily routine
- medical care
- moving into a care home
- life sustaining treatment.
This type of lasting power of attorney can only be used when you are unable to make your own decisions.
Property & Financial Affairs
This lets you chose one person or more to make decisions about money and property e.g
- paying bills,
- collection of benefits
- selling your home
This type of Lasting Power of Attorney can be used as soon as it is registered, with your permission.
You may choose to make one type or both. In order to do so you must be over the age of 18 and have mental capacity.
IQ Estate Planning can help ensure that your affairs can be dealt with in these circumstances by arranging both types of power of attorney. Contact us for more information.