It’s a powerful legal document which allows any individual (over the age of 18) to appoint someone to look after their affairs should they no longer wish, or be able, to make decisions for themselves.
There may come a time in your life when you are unable to manage your financial affairs or personal welfare, owing to some form of incapacity and you will need someone to act on your behalf.
Even when we are young, we can find ourselves incapacitated owing to illness or injury and it can be invaluable having a reliable person, who is able to manage your personal affairs and remove the anxiety of having unpaid bills, at a time when you most need peace of mind.
Similarly as we get older, the need for an attorney increases as we are more prone to illness and injury, and could at some stage lack the mental capacity to make decisions for ourselves. Remember, Dementia is now the leading cause of death in England and Wales.
By creating a Lasting Power of Attorney in advance ensures that if the worst were to happen, you can rest assured that both your financial affairs and personal welfare are in safe hands.
There are two types of Lasting Power of Attorney Property & Financial Affairs and Health & Welfare.
Lets the people you choose make decisions about, for example: – Buying and selling your property. opening, closing, and operating bank/building society accounts in your name; and Claiming, receiving and using your benefits, pensions, and allowances.
Lets the people you choose make decisions about, for example: – Giving or refusing consent to particular types of health care, including medical treatment decisions; you staying in your own home, perhaps with help and support from social services; You moving into residential housing and choosing the right care home for you; and Day-to-day issues, like your diet, dress, or daily routine.