If the answer is no, you are not alone! Since being introduced in 2007, the take up on Lasting Powers of Attorney has been relatively low. There may be many reasons for this but most clients say it is due to not realising how important they can be and their fear that the process will be too complex.
However, a Lasting Power of Attorney is equally as important as having an up to date Will.
Just think what would happen if you were no longer able to manage your affairs, who would manage your bank accounts? Who would be able to contact utility companies, care providers etc on your behalf? Who would decide where or how you receive medical treatment?
You may feel you have no need to worry as you have a next of kin, however, this does not give your relative the legal authority to manage your affairs. In reality, how would your next of kin pass security questions over the telephone or give authority to withdraw funds from a bank account.
The easiest and simplest way to ensure you and your family do not encounter such difficulties is to ensure you have Lasting Power of Attorney in place.
Your Lasting Power of Attorney will appoint one or more persons to act on your behalf if you are no longer able to manage your affairs. Whether temporary or long term and whether the reason is due to physical or mental difficulties, your Attorney will be able to help you.
Thursfields Wills & Estates specialists can advise you with relation your Attorneys responsibilities, which persons should be notified, words of guidance or restrictions that may be helpful and the scope of the Power. We can draft the documents for you, advise you on the implications, arrange for them to be executed correctly and finally deal with the registration of them via the Office of the Public Guardian.
For more information on Lasting Powers of Attorney, please contact Michelle Hetheridge on 0121 227 3850 or email firstname.lastname@example.org.