It is a shocking fact that around 75% of people in the UK believe that their partners or close family can automatically make decisions for them if they do not have the mental capacity to do so.
A lasting power of attorney enables you to choose and appoint close family or partners as legal attorneys who are then given the power to make important decisions on your behalf should you lose the mental capacity to do so.
A Lasting Power of Attorney also gives you the choice as to whether you would like your trusted attorneys to be able to use the LPA whilst you still have capacity, under your instruction. This is great for those who have limited mobility and likely find it difficult to get to the shops or the bank. For many families, a Lasting Power of Attorney can help them do more to help their elderly relatives.
At Cleversons we understand that whilst some of our clients do have the requisite mental capacity to deal with their own finances, they may struggle with mobility or travel, while others may be out of the country on holiday for periods of time. All of these can be solved with a Lasting Power of Attorney.
There are many more benefits of making a lasting power of attorney than first meets the eye, including:
Growing old is an unavoidable step in our lives, at some point there may become a time when you stop having the mental capacity to make your own decisions. Should this happen it can be very difficult for your loved ones to make the important decisions on your behalf.
Even though your loved ones are likely to know your wishes and beliefs, the complicated legal requirements to allow someone to make decisions is not one that should be left till the last minute. Once the mental capacity has been lost it may not be possible for us to create a Power of Attorney for you.
It is very important in the fast paced environment we live in that every care is taken to ensure that every eventuality is considered and dealt with. A Couple can for example have mirrored Power of Attorneys, this means that should one or other become unable to make those important decisions your loved ones can make the decisions you have always wanted.
Your attorneys can deal with all aspects of your property and financial affairs using the lasting power of attorney unless you include a clause excluding them or advising them on dealing with a particular asset. For example, if you have a impressive classic car collection you may wish to state an instruction or preference that they take professional valuation advice before they deal with the asset. When an instruction is included it must be followed by the attorneys, whereas a preference does not.
Get in touch with Cleversons Solicitors. We have helped hundreds of families ensure they can look after your best interests immediately following the event you lose the mental capacity to deal with those aspects of your life.
For a free no obligation initial consultation call us today on 0800 368 5102, one of our team will discuss your requirements and provide you with advice on the best lasting power of attorney for you, or complete an online enquiry form and a member of the team will be in touch.