As individuals, it is not often that we think about what would happen should we not be able to deal with our own financial matters or health and welfare.
What Is A Lasting Power Of Attorney?
If an individual loses capacity and is unable to make decisions for themselves, having pre-appointed an Attorney can be a beneficial resolution and can greatly assist with the day to day management of a person’s affairs.
A key note to consider when deciding to prepare Lasting Powers of Attorney is appointing someone to manage your affairs on your behalf, does not mean that you have given up all control of dealing with your affairs if you still have capacity, and an Attorney should only act when it is clear that you are unable to make decisions for yourself or have specifically instructed an Attorney to act for you. Therefore, it is possible to limit the powers that your Attorneys have when acting on your behalf, and you can choose whether a Lasting Power of Attorney is used before or only when you lose capacity.
Why Do I Need a Solicitor To Create a Lasting Power of Attorney?
In order to appoint one or more persons to deal with managing your affairs, it is necessary to prepare a Lasting Power of Attorney, which is a legal document that allows you to appoint one or more Attorneys to act on your behalf in various situations that may affect your personal affairs.
The creation of the legal document must be clear of your wishes and be legally binding to avoid any unnecessary costs or heartache for those involved, in the unfortunate situation that you do lose capacity. The experience team at Goughs Solicitors have specialist knowledge in Later-Life Planning and the creation of Wills, so can be key to ensuring you and your affairs are looked after as you wish.
Making Lasting Powers of Attorney can help to give you comfort in knowing that your affairs will always be managed no matter what the circumstances.
Click here to make an appointment with a member of the Private Client Team or call 01225 762683.
For further detailed information, read our Preparing a Lasting Power of Attorney Factsheet
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