Else’s private client services solicitors are advising people to allocate their lasting powers of attorney sooner rather than later.
There are around two million people in the UK who are unable to make decisions for themselves. Many of them are suffering from dementia, mental health conditions, or brain injuries.
The majority are elderly, but many are young people that have been taken ill. Some of these people may recover their mental capacity. However, their illness may mean that they are unable to manage their affairs for a while.
It can be a difficult to decide who should manage a persons affairs while they are ill. Should it be a family member, a partner, or a friend?
The fact is that partners do not have an automatic right to manage the finances of someone who has lost mental capacity. This can even affect joint accounts and accident insurance payments. Banks have been know to freeze a joint account until the courts have made a ruling.
Else’s team of expert private client services solicitors in Birmingham, Burton on Trent, and Derby, can help you to set-up your lasting powers of attorney, while you’re able to make the decision for yourself. This could save the people closest to you a lot of time, stress, and money.
If someone loses the ability to manage their affairs, and they have not allocated powers of attorney, their carers will have to go down the legal route. They will have to apply to the Court of Protection, who will EVENTUALLY give someone, usually a family member, power to manage the ill person’s finances.
This can be a time consuming process and it costs £400 just to apply to be approved as a Deputy of the Court, the person with authority to deal with finances on behalf of someone else. There are also on-going supervision fees and legal advice costs.
All of these issues can be eradicated by appointing your attorneys in advance.
There are two types of lasting powers of attorney. Those that manage property and financial affairs, and those that protect health and welfare.
You will need to get consent from the person you wish to nominate before you appoint lasting powers of attorney. It can be a very big responsibility.
You will also nominate another trusted person who will be informed if a lasting powers of attorney are registered on your behalf. This can be a key safeguard that protects your affairs. This person has the right to object if they have any concerns about the registration for lasting powers of attorney.
It is much, much, more simple to appoint lasting powers of attorney in advance, rather than your family members having to apply to the Court of Protection for authority if you are suddenly taken ill.
For more advice about lasting powers of attorney please contact our expert private client services solicitors in Burton on Trent on 01283 526200. Alternatively, you can send us a message and we will get in touch at a time that suits you.