A Lasting Power of Attorney is the ability to allow someone to make decisions and manage the affairs of someone who no longer has the capacity to do these important things. There are two types of Lasting Power of Attorney; one which allows the attorney to manage the person’s property and financial affairs and one which allows the attorney to make medical decisions and decide on the person’s care.
Remember, without a Lasting Power of Attorney or Order of the Court of Protection once you no longer have the capacity to make decisions or continue to look after your own affairs, no one else will be allowed access to your bank accounts or finances which you may be in need of at the time.
An Order of the Court Protection can be made by an application to the court who can then appoint a Deputy who will then manage the fairs of the individual. Do bear in mind that this process can be costly and time consuming.
It is important that the decision to make a Lasting Power of Attorney is done quickly as the person whose affairs are being taken over can only make this decision whilst they still have capacity. Therefore, for anyone with a degenerative mental condition, this is a decision that should be considered before it is no longer a viable option.
However, this is not just an option for people with such conditions, anyone can make a Lasting Power of Attorney and it can be drafted to only come into force when a doctor has certified that you no longer have mental capacity, therefore retaining your autonomy until that point.
A Lasting Power of Attorney is an important document because you would want to know if you no longer had the capacity to manage your own affairs that these important decisions were taken by someone who you know you can trust and that those around you would not have the additional worry and distress that can come with this situation occurring.
Emma Fuller is head of the private client team at EHL; our solicitors in Loughborough are experts in their fields and dedicated to quality client care. If you would like to find out more about our solicitors in Loughborough please contact us.
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