As people are living longer it is becoming increasingly necessary to organise a Power of Attorney. A Power of Attorney can legally organise and make decisions regarding your affairs on your behalf in the event of you becoming unable to do so.
The advantage of choosing a person to have Power of Attorney over your affairs in advance of becoming incapacitated is that you can choose the person you wish to elect to organise and manage your life if you are no longer able to do so. You can also dictate the level of scope with which they will be able to act.
Lasting Power of Attorney (LPA)
There are two types of LPA;
- Health and welfare LPA
- Property and financial LPA
You may elect to have one or the other or both.
Health and Welfare
The person who has LPA over your health and welfare can make decisions regarding your daily routine, your medication, whether you need to move into a care-home and whether or not to continue life-sustaining treatment. Obviously, you would decide the extent of their power when it comes to making such decisions, and it is important to choose someone who knows and respects your values and wishes if you are unable to communicate them.
Property and Financial
Unlike a Health and Welfare LPA which can only be actioned when you become unable to make your own decisions, a Property and Financial LPA can come into force as soon as you give permission. This type of LPA gives power to your person of choice to manage your financial affairs. They are able to pay your bills, manage your property and sell assets as required.
Ordinary Power of Attorney (OPO)
If you are struck down with a major illness or going abroad for some time you may want to consider giving someone close to you an OPA to manage your affairs and or carry out certain tasks on your behalf in the short term. You need to be very clear about the power your OPA document gives to the person you have chosen.
If a loved one has become incapacitated and therefore unable to look after their own affairs then we can assist you with an application to become their ‘Deputy’ via the Court of Protection. Although the boundaries of a Deputyship order vary in each individual case, all deputies are required to act in the incapacitated person’s best interests. We can offer ongoing advice in managing a person’s affairs and on applying to the Court for a Statutory Will, an order to make gifts, and the appointment of Trustees.
If you would like to talk to us about setting up a Power of Attorney or Deputyship please contact our office today or phone us on 01444 235 232 to make an appointment.