With Lasting Powers of Attorney people often assume that their loved ones/next of kin will have the right to manage their affairs on their behalf if they lose capacity. Unfortunately, this is not the case.

If you lose capacity without a Lasting Power of Attorney in place then no one will be able to manage your financial affairs without a Deputyship Order and any health decisions would be made on a best interest basis often involving the local authorities and medical professionals, whilst your loved ones will have an opinion, they do not have the final say.

In my opinion Lasting Powers of Attorney are as important, if not more important, than your Will as Lasting Powers of Attorney will affect your life while you’re alive and have lost capacity to deal with your affairs yourself. I encourage everyone that I know to have Lasting Powers of Attorney in place early on in life so that they and their families do not have to worry about them later.

There are two different types of Lasting Power of Attorney. The Lasting Power of Attorney for property and financial affairs will allow your appointed attorneys to assist you in financial matters such as dealing with your bank accounts and making investment decisions when you need help, or you do not have the mental capacity to make such decisions. The Lasting Power of Attorney for health and welfare will allow your appointed attorneys to make decisions when you are unable to do so over such matters as where you should live and consenting to medical treatment including life sustaining treatment.

If you wish to enquire about Lasting Powers of Attorney, then please call us on (01233) 665544. We look forward to helping you.