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Nobody wants to think about the consequences of their death. However, planning for this eventuality will bring a lot of relief and save a lot of worries for your family when they are already burdened [...]
As an established legal specialist firm, at Truth Legal, we believe in providing services and advice delivered with understanding and compassion and in a cost-effective manner. We understand that planning for the eventuality of your loss of capacity can be extremely challenging. However, ensuring your affairs are in order and your future health is legally covered is crucial to providing you and your family with long term peace of mind. We are committed to guiding you through the process of arranging your lasting power of attorney with upmost empathy and to tailor our services to your needs.
What is a Lasting Power of Attorney?
A Power of Attorney is essentially a document which allows you to nominate someone else to deal with your affairs on your behalf. An Ordinary Power of Attorney can be used to appoint someone to act on your behalf for a specific transaction, or with your finances generally, when you cannot physically do so yourself, for example, if you are abroad. An Ordinary Power of Attorney you grant to someone can only be used whilst you still have mental capacity and can be revoked at any time.
To prepare for an eventuality of losing mental capacity, i.e. being unable to deal with your own affairs due to illness or an injury, you can make a document called a Lasting Power of Attorney (LPA). As opposed to the Ordinary Power of Attorney, an LPA can be used even after you lose mental capacity. The person (or people) you appoint to act for you are called the attorneys. The attorneys are then empowered to make legal and valid decisions on your behalf as if the decision was made by yourself.
What do I need to know about Lasting Power of Attorney?
- There are two types of LPA; one for finances and property and one for health and welfare decisions.
- Naturally, you should only appoint people that you trust as your attorneys on your LPA.
- As an additional protection against abuse of power, the attorneys will need to register the LPA with the Office of the Public Guardian before the LPA can be used. The attorneys must always act in your best interest and if they are found to breach that duty they can face criminal prosecution.
- It is possible to include wishes and instructions for your attorneys which will need to be respected when your attorneys are acting for you.
- If you lose mental capacity but don’t have an LPA in place, then some decisions regarding your estate could be taken against your wishes. Often, there would arise a need to apply to the Court of Protection to act on your behalf as your deputy. Proceedings leading up to the appointment of a deputy are very time-consuming and expensive. Unfortunately, you would also lose control of who would be appointed as your deputy- it will be for the Court to decide.
How Truth Legal can help prepare your Lasting Power of Attorney
Our specialist team can discuss your options and assist with making powers of attorney so that you are totally comfortable with appointing your chosen solicitors and making sure the LPA is drafted to give effect to your wishes.
Call us today on 01423 788538 to arrange your lasting power of attorney with Truth Legal solicitors.