Don’t leave it too late to make your Lasting Power of Attorney

What if?

What would happen to you, your home, your ongoing care and your assets if you lost the mental capacity to make decisions by yourself? Alternatively, if you are in hospital with an ongoing illness, or struggling to get out and about following an operation, how would you be able to access your finances?

Thinking and talking about what would happen if our faculties deserted us can be uncomfortable. But nevertheless, it’s important to consider how much worse the situation would be if you had a stroke, car accident or Alzheimer’s without having the ability to record your preferences beforehand.

The best time is now!

The solution is a Lasting Power of Attorney (LPA). This is a legal document where you appoint one or more people, who you know and trust, to deal with your health, welfare, finances and property on your behalf, if you are unable to do so. Many people put off such a decision, often until is too late, which is why we say that the best time to make one, is when you are capable of doing so. Once you’ve lost capacity, it’s too late.

There are two different types of LPA

Health And Welfare LPA – give your attorney the power to make decisions about:

• Your daily routine – washing, dressing, eating etc.
• Your medical care
• When to move into a care home
• Life-sustaining treatment

Property And Financial Affairs LPA – give your attorney the power to make decisions about:

• Managing your bank or building society account(s)
• Collecting your benefits or pension
• Paying your bills
• Selling your home

Don’t make assumptions

Neil Raisborough, Director of Alsters Kelley Solicitors Ltd and Head of Wills, Probate, Tax & Trusts, explains more. “If you are married, or in a civil partnership, you may have assumed that your spouse would automatically be able to deal with your bank account and pensions, and make decisions about your healthcare, if you lose the ability to do so. This is not the case. Without an LPA, they will not have the authority.”

Neil continues. “LPA’s must be registered with the Office of the Public Guardian before they can be used. Without Power of Attorney, your loved ones will have to apply for a deputyship at the Court of Protection. Applying to be a Deputy through the Courts is a lengthy process which can take 6-12 months or longer, is costly and has ongoing annual responsibilities to file reports with the Court and further fees. It is a process from experience that should be avoided, and having Powers of Attorney in places does just that, and makes things much simpler for those you have chosen to manage your affairs and make decisions on your behalf.”

There are many advantages to having an LPA in place, these include:

• Ensuring somebody you know and trust is in control
• Protecting the things you care about the most
• Making sure you get the treatment you want
• Enabling your loved ones to have access to your money when they need it
• Protecting you from fraud
• Allowing you to leave clear instructions
• Giving you and your family complete peace of mind

Next steps

Whatever stage you have reached in your life, at Alsters Kelley we are here to help you through the big milestones. We want to have a long-term relationship with you and your family and support you every step of the way.

If you would like some help to plan for a more secure future, please contact Neil Raiseborough, Head of Wills, Probate, Tax & Trusts, telephone 01926 356042 or email neil.raiseborough@alsterskelley.com