Taking Control
Lasting Power of Attorney
We all like to be independent and in control. However what if you find yourself in a position where you are no longer able to make decisions for yourself?
When it comes to managing your finances you may think that a family member or friend will be able to deal with matters. Unfortunately, this is not the case as no-one has power to deal with your finances without authority.
If you are no longer capable of giving someone authority over your finances, the chances are that it may be necessary for them or others to apply to the Court of Protection for authority. This can be a lengthy process and distressing for you and all those concerned and is usually very expensive.
The thought of giving someone authority over your finances in the future can be a somewhat daunting prospect. However, with support and advice it doesn’t have to be.
Making a Lasting Power of Attorney allows you the ability, on your terms, to give a family member, friend or even a professional person, authority to make certain decisions on your behalf. As well as giving authority over your property and financial affairs you can also give them authority to make health and welfare care decisions. Only, however, at a time when you are no longer able to do so. The authority can be in general terms or it can be restricted. You can provide guidance so that your views and/or wishes can be acted upon.
Who to choose?
Your Attorney can be anyone of your choosing. Although you might wish to consider a trustworthy candidate who is likely to have the appropriate abilities to make such decisions on your behalf. More than one Attorney may be appointed. You can also appoint a replacement Attorney, who will only step if a situation arises where the original Attorney can no longer act.
Taking control now means that you can stay in control in the future. Thus avoiding problems later in life even when you are no longer able to make decisions for yourself.
If you would like further information or advice on making a Lasting Power of Attorney please contact a member of our Private Client Department who will be happy to assist you.
