Lasting Powers of Attorney
Lasting Powers Of Attorney
are powerful legal documents allowing you to appoint someone you trust to look after your affairs should you no longer be able to through mental or physical incapacity. Allot of people assume a will is enough, however it’s not.
People make a will in the event of death however with more and more people living longer and requiring care, putting last powers of attorney in place avoid the local authority making those decisions for you.
There are two Lasting Powers Of Attorney:
Property & Financial Affairs – This allows the attorney to pay bills, deal with banks and investments, arrange and collect benefits or even sell property on behalf of the donor.
Health & Welfare – This allows the attorney to make decisions for the Donor such as care issues, where the Donor lives and give or refuse consent to life sustaining treatment.
With no Lasting Power Of Attorney in place, bank accounts and investments are frozen, bills may not be paid and partners will not be able to sell property. Your wishes will be irrelevant as a doctor or local authority will make decisions on your behalf.
The only way your financial affairs can be managed would be an application to the Court of Protection for a Deputyship Order which can be both expensive and time consuming.