Why should I consider having a Lasting Power of Attorney?
Imagine the scenario…
An elderly gentleman has his family nearby, attends various social activities in the week and generally enjoys his life. But he finds getting out to the bank difficult and struggles to sign documents because of the stroke he had a few years ago which affected movement in his right hand. Under a Lasting Power of Attorney, the people he trusts would have the legal authority to assist him with his day-to-day finances, making both their role in caring for him and his own quality of life, much better.
A university lecturer is travelling abroad for her next post. However, she has property and investments in England that she wishes for her sister to manage in her absence. By setting up a Lasting Power of Attorney, this can be done just as she wishes.
A wealthy lady is, sadly, struggling in her home with the onset of dementia. Sometimes she recalls who her family are, sometimes she doesn’t. It’s unclear whether she may need to go into a care home or not. If she has set up a Lasting Power of Attorney, her Attorneys can ensure that she is cared for appropriately and her finances properly managed in her best interests.
Lasting Powers of Attorney are often used at a key time in a person’s life, whether they are in a vulnerable position or just need someone to manage the paperwork and financial side of their life. On top of the time it takes to make them, Lasting Powers of Attorney can take up to 3 months to be registered by the Office of the Public Guardian (the government body responsible for overseeing them). If they are already signed, registered and ready to be used, then if that important moment comes when they are required, distress is minimised as they can be used right away.
There are two types of Lasting Powers of Attorney; one for property and financial affairs and the other for health and welfare matters. If you would like more information regarding these, please see the leaflet below or feel free to contact the Wills & Probate Department in any of our offices on the numbers below.Back to News