Lasting Power of Attorney
Q. Do you have someone who can take over financial commitments if you are unable to, due to a holiday or prolonged hospital stay?
Q. Do you have someone who can 'step into your shoes' if your mental capacity meant that you were no longer able to make decisions on your health and well being as well as financial circumstances?
When someone makes a lasting power of attorney (LPA), they appoint one or more individuals to make decisions on their behalf. Having this legal document in place ensures that your wishes are carried out and someone, trusted by you, can make decisions on your behalf with regards to your financial affairs, your health and care both now and in the future. It comes into effect if you lose mental capacity, are unable to make decisions for short periods of time, or if you no longer want to make decisions for yourself.
There are a number of reasons why you might need someone to make decisions for you or act on your behalf, such as:
- It could just be a temporary situation: for example, if you're in hospital and need help with everyday tasks such as paying bills.
- You may need to make longer-term plans if, for example, you have been diagnosed with dementia and you may lose the mental capacity to make your own decisions in the future.
- You may need to make longer-term plans if, for example, you have been diagnosed with dementia and you may lose the mental capacity to make your own decisions in the future.
"Change your life today. Don't gamble on the future, act now, without delay." Simone de Beauvoir
Having a Lasting Power of Attorney takes away the concern that should a situation arise, you will have the necessary paperwork in place for someone to take action on your behalf; the reassurance that decisions would be chosen with the direction predetermined by yourself. You are able to have this in place to be utilised whilst you are still in good health, for reasons including:
- you need someone to act for you for a temporary period, such an when you’re on holiday or in hospital
- you’re finding it harder to get out and about to the bank or post office, or you want someone to be able to access your account for you
- you want someone to act for you while you’re able to supervise their actions
- you’re finding it harder to get out and about to the bank or post office, or you want someone to be able to access your account for you
- you want someone to act for you while you’re able to supervise their actions
An LPA for financial decisions can be used while you still have mental capacity or you can state that you only want it to come into force if you lose capacity. This document covers situations including:
- buying and selling property
- paying the mortgage
- investing money
- paying bills
- arranging repairs to property.
- buying and selling property
- paying the mortgage
- investing money
- paying bills
- arranging repairs to property.
The cover for health and care decisions can only be used once you have lost mental capacity. An attorney can generally make decisions about things such as:
- 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.You can also give special permission for your attorney to make decisions about life-saving treatment.
- 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.You can also give special permission for your attorney to make decisions about life-saving treatment.
Don't assume that if you’re married or in a civil partnership, that your spouse would automatically be able to deal with your bank account and pensions, and make decisions about your healthcare, if you lose the ability to do so. This is not the case. Without an LPA, they won’t have the authority. If you would like to discuss things further, or take the step to setting up power of attorney, then get in touch with Lacuna Wills.
Frequently Asked Questions
The main document that encompasses all needs during your lifetime is a Lasting Power of Attorney (LPA) it is a legal document that gives one, or more, permission to make decisions on your behalf. An LPA for financial decisions can be used both whilst mental capacity is held, and can continue once it is lost.
If you lose mental capacity, and an LPA has not been set up, then loved ones will be required to apply through Legal channels to become a 'deputy', a long and expensive process. You can only set up a Lasting Power of Attorney when you have mental capacity.
Mental capacity means the ability to make or communicate specific decisions at the time they need to be made. To have mental capacity you must understand the decision you need to make, why you need to make it, and the likely outcome of your decision.
Some people will be able to make decisions about some things but not others. For example, they may be able to decide what to buy for dinner, but be unable to understand and arrange their home insurance. Alternatively, their ability to make decisions may change from day to day. Needing more time to understand or communicate doesn’t mean you lack mental capacity. For example, having dementia doesn't necessarily mean that someone is unable to make any decisions for themselves. Where someone is having difficulty communicating a decision, an attempt should always be made to overcome those difficulties and help the person decide for themselves.
We can come to your home to discuss the finer points of your decisions and from there begin to fill in the forms to appoint your chosen person as an attorney. We will then register your LPA with the Office of the Public Guardian (this can take up to 10 weeks).
The person who the power of attorney is for (known as the principal), has the authority to revoke it at any time, as long as they are still mentally competent and able to communicate.
The power that a named person has is dependent on whether it is for an ordinary power of attorney, or a lasting power of attorney; and whether it is for health and welfare or property and finance. At the time of completing the LPA form, this can be further explained to you. The power that you have will always be in the best interest of the person who you are making the decisions on behalf of.
If you are legally married, your spouse is already designated by law to speak on your behalf if you become incapacitated. In all other cases, you should choose someone to designate as your Health Care Power of Attorney.
|
What our clients say about us:
Last year My partner and I were expecting our first child, we knew we needed to prepare for the future and put things in place if the worst was to happen. This to us was a scary and difficult task .
We were fortunate enough to have the guidance and help of Chris Fooks, who made this difficult task easy and pain free . He came to our home and being in our own environment made this a less terrifying experience. Chris didn’t over complicate anything, he kept it simple and easy to understand. We would highly recommend Chris to our family and friends. " Billy and Eve, Buckinghamshire
|
