Powers of Attorney
A Power of Attorney allows you to delegate important decision making to a trusted third party, should you lose the mental capacity to make these decisions.
What is a Power of Attorney?
A Power of Attorney is a type of legal document that gives someone else the ability to make important decisions or act on your behalf if you no longer have the ability to do so. This is known as losing mental capacity. Losing mental capacity means that you are no longer able to communicate your decisions or wishes at the time they are required, due to a brain injury, dementia, learning disability or illness, for example.
Why do I need a Power of Attorney?
Setting up a Power of Attorney in advance saves your loved one valuable time and expense, as without one in place they will have to apply to the Court of Protection for deputyship; an often lengthy and pricey process. It therefore pays to be prepared and arrange a Lasting Power of Attorney in advance, especially if you are aware that your health is deteriorating.
Even if you are perfectly healthy, there is ample reason to consider setting up a Power of Attorney. After all, an accident could happen at any time, so why not ensure that future decisions are made with your best interests at heart.
If you are interested in setting up a Power of Attorney, our team of experienced private client solicitors are here to help. We will ensure that all of your requirements are properly accounted for and all documents are submitted without issue. Contact us on 0800 2800 421.
Different types of Lasting Power of Attorney
There are two types of Lasting Power of Attoreny (LPA), both covering totally different aspects, so it would be incorrect to assume that you only need one Lasting Power of Attorney to cover all your needs.
Property and Financial Affairs LPA
This gives your deputy (or deputies) the ability to make decisions regarding your property and finances, like paying bills, paying the mortgage and buying and selling. You can stipulate in your LPA what types of decision they can make and under what circumstances. You can also ask for details of their financial decisions to be sent to your solicitor or a family member for additional protection. You do not necessarily need to have lost mental capacity for this LPA to take effect.
Health and Welfare LPA
This type of LPA can only be actioned if you have lost mental capacity and allows a deputy (or deputies) to make decisions regarding your healthcare needs, like your medical care, where you will live and life-sustaining treatment.
Do I need a solicitor to set up a power of attorney?
Whilst it is possible to submit an application for a Lasting Power of Attorney yourself, it is highly recommended that you seek expert advice from a qualified Power of Attorney solicitor before you do so.
Registering a Power of Attorney is a complex legal process and it is important that you understand all the implications and ensure your application is correctly formatted and worded so it isn’t rejected. We have a team of specialist Power of Attorney lawyers here at Trethowans who will be happy to guide you through the process step by step, ensuring you total peace of mind. We can also safely store your Lasting Power of Attorney documents for you until required. Get in touch with us on us on 0800 2800 421.