Lasting Powers of Attorney are like an insurance policy - you hope that you'll never need to use them, but it is better to have them ready just in case.

There are two types of Lasting Powers of Attorney: Property & Finances and Health & Welfare.

A Lasting Power of Attorney for Property & Finances enables you to appoint attorneys to look after your property and financial affairs if you are unable to do so. This can apply while you still have capacity, for example, if you have a broken arm and are unable to sign or if you’re out of the country. But most importantly, it can also be used when you have lost the necessary mental capacity to deal with your own affairs.

A Lasting Power of Attorney for Health & Welfare decisions is different and enables you to appoint attorneys to make decisions regarding your personal health and welfare, but can only be used when you have lost the necessary mental capacity to do so yourself. This can include giving or refusing consent for life sustaining treatment, choosing a nursing or care home, or giving consent for an operation.

You may ask yourself what the consequences would be if you did not have one. Not having a Lasting Power of Attorney in place could cause unnecessary complications for your loved ones in trying to look after your affairs while you’re not able to do so. Your loved ones could be left in a challenging situation without access to your bank accounts which would leave them unable to pay your bills. They would also be unable to sell your house if they needed to do so, even if the house was in joint names, as both proprietors would need to sign. It may even result in your loved ones having to apply to the Court of Protection to appoint a Deputy to look after your affairs. This can cause unnecessary delays, be much more costly and could impose more onerous obligations on those looking after your affairs.

I would recommend considering making Lasting Powers of Attorney as they are not just for the elderly. Younger people can also be involved in accidents which may affect their ability to manage their own affairs.  

If you would like to find out more about Lasting Powers of Attorney please contact a member of our Wills, Trusts and Probate team today. We will guide you through your options and provide you with the information you need to decide whether you could benefit from making Lasting Powers of Attorney. Our team can prepare the Lasting Powers of Attorney for you and arrange the registration with the Office of the Public Guardian, ensuring that the documents will be ready to use when needed.

To talk with one of our specialist advisers please message us your enquiry or request a callback at your convenience today.