Nobody wants to think about a time in the future when they won’t be able to make their own decisions however it is important to put arrangements in place so that the right healthcare and financial help can be provided when the time comes.
LASTING POWER OF ATTORNEY
If someone becomes unable to make decisions about their own affairs because of old age, illness, mental incapacity or an accident, they’ll need someone to do this for them. What many people don’t realise is that there is no automatic right for a next of kin to have authority over their affairs in such circumstances.
Failure to prepare for this situation can lead to a whole host of complication when it becomes necessary to take care of even fairly simple transactions such as withdrawing money from a bank account or paying bills.
Setting up a Lasting Power of Attorney means that, should the need arise, clear arrangements are in place for someone to step in and make key decisions about someone’s health, living arrangements and finances.
What is a Lasting Power of Attorney?
Lasting Power of Attorney (LPA) enables someone to manage the affairs of another person when they are no longer able or willing to do so.
By setting up an LPA, you grant a trusted individual or individuals known as the attorneys the legal authority to look after your affairs. Attorneys have the right and duty to act in your best interest. Without an LPA, a relative will usually have to apply to the courts before they can start dealing with the affairs of a loved one who has become incapacitated and this can become a difficult and expensive process.
It is crucial that you don’t leave it too late. You can only set up an LPA while you have the mental capacity to do so.
There are two kinds of LPA:
- Property and Financial Affairs– this covers things such as managing day to day finances, debts, benefits, and buying and selling property.
- Health and Welfare– this covers issues such as NHS treatment, where the donor lives, day to day care and medical treatment. The donor also has the option to give the attorneys the right to consent or refuse life- sustaining treatment.
For further information about making a Lasting Power of Attorney, contact one of our offices below
Bala Office- 01678 520 428
Dolgellau Office- 01341 422 604
Denbigh Office- 01745 814 817