It is a sad fact, as people live longer, their mental and physical health deteriorates. It means that there may come a time when you are no longer able to make decisions for yourself. Before this happens, you can choose people you know and trust to make decisions on your behalf and set up what are known as Lasting Powers of Attorney (LPA).
There are two types of LPA you can set up
A "Property and Financial Affairs" LPA allows your loved ones to deal with paying your bills, buying and selling your property and managing your bank accounts and investments.
A "Health and Welfare" LPA covers decisions about health and care and even deciding where you are to live. This can only be used if someone is incapable of dealing with such matters themselves.
We can advise you on the importance of setting up LPAs, as well as drawing up the necessary paperwork, and registering your LPAs with the Office of the Public Guardian so they are ready to use if and when you need them.
As well as LPAs you may need to set up an ordinary Power of Attorney. These can only be set up and used (unlike LPAs) for financial transactions when you have full mental capacity. For example, if you are going to be overseas, while an important transaction is going on here in the UK, you might want to appoint someone to handle things for you in your absence.
For all your power of attorney requirements, we can provide you with the professional advice you need.