Power of Attorney
Who would pay your bills, sort out your finances or make medical decisions for you if you couldn’t do this for yourself? You may think your spouse, partner, children, siblings, parents or friends would be able to fill out a few forms and then be able to step in. This is not the case unless you have appointed them to be your Attorney.
Very often people find out too late that there is nothing they can do to manage a loved one’s financial affairs or assist with medical or care decisions and it is prudent to ensure you choose who you trust to act for you, in case this happens.
Without Lasting Powers of Attorney, it’s the Court of Protection that decides these matters. It is an expensive, anxious, intrusive and time-consuming process.
What is a Power of Attorney?
There are two different but important Lasting Powers of Attorney, one for Property and Finance (wealth) and one for Health and Welfare (medical).
Each is a legal document where you appoint a person or persons to step in to make decisions on your behalf.
Without Lasting Powers of Attorney nobody has the legal authority to make decisions for you, not even your spouse.
Why do I need a Power of Attorney?
Accidents and illness can find anyone of us at any age without warning and then there are dementia type illnesses which are commonplace nowadays, which can affect the ability to make sense of the world. Few of us don’t know anyone whose life hasn’t been by touched by such illness.
Even if we are fortunate enough not to encounter these difficulties, life can become challenging as we get older. Everything is either done online, through an App or a call centre. We are all living to an older age. Dealing with banks, gas supplier, pension provider or GP surgery when you’re in your 80s or 90s can be impossible if you are hard of hearing, have visual problems or know nothing about the internet. GDPR (data protection rules) has made it extremely difficult for loved ones to step in. Physical problems can restrict mobility so popping out to your local bank to draw cash out or set up a direct debit isn’t an option and the impact of covid hasn’t helped with any of this.
A Lasting Power of Attorney for Property and Finance can help enormously and would enable you to appoint somebody you trust to:
-
Pay your Bills
-
Arrange repairs to your home
-
Deal with your bank and investments
-
Deal with your insurance company
-
Sell your home
Many people may already have informal arrangements in place with their family. However these can often be legally challenged and aren't always guaranteed to be adhered to. Further difficulty in executing these informal arrangements can arise if your mental or physical capacities are hindered. It could then too late to appoint family members to be your Attorneys.
A Lasting Power of Attorney for Health and Welfare can only be used if you can no longer make decisions for yourself.
It would enable you to appoint somebody you trust to:
-
Decide where you should live
-
Your medical care
-
What you should eat
-
Who you should have contact with
-
What kind of social activities you should take part in
-
Life sustaining treatment decisions
Lots of people mistakenly think that their family will look after them in these circumstances. Sadly, this is not true. Medical decisions are made by NHS and care decisions are made by your Local Authority. Resources are stretched, you may be treated in a way that your family would know you isn’t right for you and without Power of Attorney they would find it very difficult to put this right.
What would happen without lasting powers of attorney?
Somebody from your family or your Local Authority could apply to the Court of Protection to get a Court Order to look after your affairs and it could well be someone you would not choose. You would have no control.
The Court of Protection procedure costs a small fortune, takes months, involves intrusive paperwork, medical reports and in the meantime your bills could be mounting up causing further problems. It’s safer to be in charge of this whilst you have capacity.
Why leave it to chance?
