A lasting power of attorney is a document which allows you to appoint up to four people to be able to make decisions on your behalf. There are two types of lasting power of attorney, one in relation to financial decisions and one in relation to health and care decisions.
If you do not have a lasting power of attorney and lose mental capacity to make decisions for yourself, this can cause all sorts of problems. The majority of issues relate to finances, for example if you are unable to manage your money and do not have an attorney, no one will be able to access your money in order to pay your bills and outgoings.
In this situation, the only option would be for an application to be made to the court for a Deputyship Order. This means that someone can apply to the court to be appointed to make decisions on your behalf, whether that be a close family member or even the local authority. These sorts of applications are currently taking over a year to be dealt with by the court and frequently cost more than twice the as much as drawing up a lasting power of attorney.
If you’re thinking of creating a Lasting Power of Attorney and would like to discuss things further, don’t hesitate to contact our Private Client team on 0333 305 7777 or email@example.com.