Whilst there is an increase in the awareness of Lasting Power of Attorney and a greater understanding of the importance of these documents, many still do not understand the consequences of not preparing them.
A Lasting Power of Attorney is a legal document which allows you to choose trusted family members or friends to manage your financial affairs and health matters, in case you suffer with mental health issues and lose mental capacity and can no longer manage your own affairs.
The most important thing to remember about Lasting Power of Attorney is that you can only have these prepared whilst you still have mental capacity.
But what would happen if I have not prepared Lasting Power of Attorney
and have lost mental capacity?
Unfortunately, if you do not have a Lasting Power of Attorney in place, and have become unable to manage you own affairs, a Deputyship order will be required, made to the Court of Protection – this can cost considerably more than setting up Lasting Power of Attorney!
As you would not have the mental capacity to express who you would like to act on your behalf, the Court have to consider the evidence provided to them before making a decision. This makes the process a lot more involved and the application requires much more time & cost. More even, can cause considerable stress for your family.
The Court of Protection is reluctant to get involved with decisions regarding Health and Welfare. It is very rare that the Court will appoint a Deputy to manage Health and Welfare matters generally on a day-to-day basis.
To arrange Lasting Power of Attorney for only £80.00 for each document (plus the Governments registration fee, if applicable), simply complete our online application, or, contact us to discuss your requirements on 0800 012 2074.