Creating a Will plays a vital role in the protection of your estate and your family after your death. However, many people overlook arranging protection for themselves and their belongings while still alive but in need of assistance. Appointing someone as your attorney gives those close to you the legal authority to deal with your affairs if you were mentally or physically incapacitated.
Mental or physical incapacity can occur unexpectedly at any age. This could apply to anyone, by reason of illness, disability or mental impairment. Many problems are encountered when someone no longer has the mental or physical capacity to care for their own affairs. Even simple matters like handling a bank account, claiming benefits, dealing with health care professionals or transacting a house sale could prove extremely difficult.
If you do not have a Lasting Power of Attorney (LPA) and lose mental capacity, the Court of Protection will appoint a Deputy to manage your affairs for you. There may be significant initial and ongoing fees to pay and a long delay before the Deputy Order is issued. In addition, the Deputy may not always be aware of your personal circumstances.
Creating an LPA now will allow you to choose someone you know and trust to act on your behalf while you still have mental capacity.
An LPA can be made by anyone with mental capacity aged 18 or over. The LPA is a legal document that can only be used by those you have appointed once it has been registered with the Office of the Public Guardian (OPG).
There are 2 parts to a Lasting Power of Attorney - Property & Finances and Health & Welfare.
...have you asked yourself what would happen to your business if you were physically or mentally unable to take care of everything yourself? Your business may be able to tick over for a few days with help from reliable staff, but beyond that, how would your business cope? Decisions relating to the day to day management of your business as well as its long-term prospects would have to be made.
Therefore, anyone with business interests should seriously consider appointing a business attorney.
This authorises someone you trust to manage the day to day running of your business, such as making and receiving payments, signing contracts and making important decisions that affect the future of your business and the lives of your staff.
We are happy to give advice on all aspects of the LPA process, will complete all the forms for you and deal with the registration of the LPA documents with the Office of Public Guardian.
