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Lasting Powers of Attorney

Whilst looking at what will happen when we die, many people neglect to think of what could happen in lifetime. That’s why preparing Lasting Powers of Attorney are a staple of our client offering.

Have you ever wondered what would happen if you lost capacity due to age or ill health? Who would pay the bills, manage your financial affairs and make decisions related to your health care? Your relatives, or even your spouse, cannot just walk into your bank and access your accounts, even if it is to pay for your bills. They will need to be officially appointed as an Attorney under a Lasting Power of Attorney in order to do so.

What are they?

A Lasting Power of Attorney is a document where you officially appoint one or more people (an ‘Attorney’) to deal with your affairs if you lose capacity. An attorney can be someone you know and trust, such as a family member, or you could choose to appoint a professional. You can only make a Lasting Power of Attorney whilst you have capacity and unfortunately many people leave it until it is too late, and they are unable to do one.

This is why we advise people to consider putting Lasting Powers of Attorney in place. There are two types of LPA which are Property & Financial Affairs and Health & Welfare:

Property & Financial Affairs LPA

This LPA gives an attorney(s) power to make decisions about things like managing your bank accounts, paying bills, collecting a pension, and selling your home.

Health & Welfare LPA

This LPA gives an attorney(s) power to make decisions on your behalf about things like medical care, moving into a care home or even decisions about life sustaining treatment.

Why Lasting Powers of Attorney are so important

If you don’t have Lasting Powers of Attorney
  1. If you lose mental capacity and do not have a valid Lasting Power of Attorney in place, then your loved ones would have to apply to the court for a Deputyship Order to deal with your affairs. The process can be costly, time consuming and more complex than making a Lasting Power of Attorney, not to mention stressful for all those involved.
  2. Any jointly held bank accounts can become restricted without an LPA for Property & Financial Affairs in place.
  3. If you lose capacity, you will not be able to choose who makes such decisions for you and it could be someone you wouldn’t have appointed yourself.
Give yourself peace of mind and contact Penrose Wills to make your Lasting Powers of Attorney today.
If you do have Lasting Powers of Attorney
  1. If you do have a Lasting Power of Attorney in place for Health & Welfare, your attorneys are able to liaise with health care professionals and social services for example, on your behalf in relation to health and welfare decisions.
  2. If in the unfortunate event you were to lose capacity one day and were required to move into a care home, with a Lasting Power of Attorney for Property & Financial Affairs in place, your attorney(s) would be able to sell the property on your behalf.
If you require our assistance in making Lasting Powers of Attorney, get in touch with us on 01273 569 143 or email us at enquiry@penrosewills.co.uk to arrange an appointment.
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