Quite often, people choose to make a Will, to protect their loved ones on their death. But have you considered protecting yourself, and indeed easing concerns for your loved ones, if your circumstances were to change during your lifetime?
Lasting Powers of Attorney are useful documents, that allow you to specify who you would like to look after your affairs on your behalf, if you were unable to do so yourself for any reason in the future, due to accident or illness.
There are two types of Lasting Power of Attorney. You may choose to make one or both types of document, depending on your circumstances, and we could discuss with you the best options for you.
The first type, a Property and Financial Affairs Lasting Power of Attorney, allows you to name other individuals who you would like to have authority to look after your financial affairs on your behalf, if you were unable to look after them yourself for any reason. This may be due to accident or illness, or in years down the line, you may decide you would prefer to hand over the responsibility of your day to day finances to your named attorneys.
The documents allow you to name one or more individuals to take up this role, known as your attorney, or attorneys. You may if you wish, also name replacement attorney(s), to step in to act if your first choice of attorney or attorneys couldn’t act for any reason.
The second type is a Health and Welfare Lasting Power of Attorney. Such documents allow you to name others who could make more personal decisions on your behalf at any point in the future, should you ever become unable to understand, or make such decisions yourself for any reason. This might be about where you may live, or concern medical treatment you may need, for example.
You may choose the same attorneys in both instances, or appoint different ones under each document if you so wish. We will be pleased to discuss the options with you and what may be most suitable for you.
Making Lasting Powers of Attorney while you are well, can be considered like an insurance. They can be in place and ready for use, should they ever be needed at a later date, if your circumstances were to change, giving you peace of mind that you have specified who can step in to help you should the need arise.
Unfortunately, situations can arise where no such documents are in place, and it can be too late for a person to be able to make a Lasting Power of Attorney, because they no longer have the ability to understand the nature and effects of the documents, and the authority they would be granting through them. That can leave a minefield for loved ones, who may then have to pursue authority to act on your behalf through a time consuming and costly court application.
Give you and your family peace of mind. Consider Lasting Powers of Attorney as part of your lifetime planning. With specialist, trusted solicitors, including members of STEP and SFE (Solicitors for the Elderly) accessible across all 11 of our offices, including York, Harrogate, Stockton and Northallerton, or the comfort of your own home if you are housebound, call 0800 1601010 to arrange a no obligation appointment to explore your affairs further.