You may worry about how you and your family will cope if you become incapable of managing your own affairs. If so it is important to consider making a Lasting Power of Attorney.
A Lasting Power of Attorney is a legal document that allows you to choose who you would like to look after your affairs and make decisions for you if you are no longer able to do so. To make a Lasting Power of Attorney you must have sufficient mental capacity to understand what you are doing and the legal implications of such. It is therefore important to consider putting a Lasting Power of Attorney in place sooner rather than later. Making a Lasting Power of Attorney offers security for you and your loved ones should you become unable to manage your affairs.
A Lasting Power of Attorney allows you to:
Choose who you wish to look after your affairs and your personal welfare in the future
Specify what powers you wish your attorneys to have
Choose who is informed about your Lasting Power of Attorney when it is registered, allowing those people to raise any concerns that they may have.
Health & Welfare or Property & Affairs
The Health and Welfare Lasting Power of Attorney allows you to choose one or more persons to make decisions regarding your medical welfare such as medical treatment and where you live.
The Property and Affairs Lasting Power of Attorney allows you to choose one or more persons to make decisions regarding your property and financial affairs, such as paying your bills and buying & selling property.
Each part of the Lasting Power of Attorney is a stand alone process, enabling you to choose whether to complete both parts or just one, depending on your circumstances.
If you are concerned about someone who now lacks the mental capacity to make a Lasting Power of Attorney applying for Deputyship may be an option to consider.
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