Lasting Power of Attorney and Professional Attorney
Accident, stroke or illness can strike at any time. Setting up Lasting Power of Attorney allows you to nominate a trusted person to handle your affairs should you become unable to do so.
The Attorney can handle financial affairs and make decisions on your behalf if you suffer illness or accident. There is a great peace of mind to be found in knowing your affairs will be taken care of when life takes an unexpected turn.
There are two types of Power of Attorney: Lasting Powers of Attorney for Property and Financial Affairs and Lasting Powers of Attorney for Health and Welfare. Both need to be registered before you suffer incapacity therefore they need to be set up in advance.
If someone has lost capacity we can help you apply for a Court of Protection Deputyship which if granted, would allow you to handle the affairs of the incapacitated.
There are two Powers of Attorney:
Lasting Power of Attorney for Property and Financial Affairs appoints Attorney(s) to handle only your financial affairs if you become unable. The powers are only used if and when necessary.
Lasting Power of Attorney for Health and Welfare allows Attorney(s) to make decisions on your behalf about medical treatment and care.
You can have either, or more commonly, both Powers of Attorney in place.
Careful consideration needs to be given to creating Powers of Attorney – Thorne Segar’s Iestyn Milton Jenkins has over 20 year’s experience of sensitive private client work and can help you understand and implement Powers of Attorney.
If you do not have anyone you would like to appoint as an Attorney we can be your Attorneys for Property and Financial Affairs.
Contact us today for further details.
Single Lasting Powers of Attorney £550+VAT
Both Lasting Powers of Attorney £850+VAT
Couples: Single Lasting Powers of Attorney £850+VAT
Couple: Both Lasting Powers of Attorney £1,250+VAT
Deputyship, typically £1,050+VAT
Home visits can be arranged at no extra charge so you can discuss your affairs in the comfort and privacy of your own home.
Why do I need it?
Think of it as being like an insurance policy – you hope you never need to use it, but it’s there in the event that you do. Having a Power of Attorney in place means that YOU choose who acts for you if you ever lose capacity, and means that usually they can do so without having to stop whilst the court makes a decision
We’re married, and our house and all our Bank accounts are in joint names- I assume we don’t need a Power of Attorney?
If you lose the ability to make decisions for yourself, then usually a Bank has to freeze a joint account (at the very least until it can investigate). Having a Power of Attorney in which someone other than you as a spouse appointed can make dealing with this much easier. Also, don’t forget that without a Power of Attorney, there is no automatic right for a spouse to speak to and deal with, for example, utility providers (if bills are in the name of the person who has lost capacity) or the other spouse’s pension providers / DWP etc.
My elderly relative wants me to help them with their affairs, but has no Power of Attorney?
If they are still able to make decisions for themselves, then they can make a Power of Attorney which can then appoint you (if that’s what they want).
If they have already lost capacity you will need to consider applying to The Court of Protection for a Deputyship Order. See further information here.
I’m young – surely I don’t I need a Power of Attorney?
You should always create a Power of Attorney not when you think you need it, but when you don’t! Sadly, things can happen regardless of age – for example accidents, strokes or illness. Think of it as insurance which will allow someone to help you if you can’t
If I create a power of attorney, do I lose the right to deal with my own affairs?
Absolutely not! The law makes clear that whilst you can make decisions, you make them! Even if you want help, again the law makes clear that the person helping you ( your ‘attorney’) has to help you make as many of your own decisions as possible.
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At Thorne Segar we pride ourselves upon providing professional advice in a friendly manner. We take pride in our work, and interest in our clients. We take great care in discussing all options with you, to make sure that whatever you decide upon, you are completely comfortable and fully understand the nature of the documents.
It’s important to have Lasting Powers of Attorney in place before you need them – or you could be left in position where, if capacity is lost, no one is dealing with your affairs.