Powers of Attorney – Why bother?
Nominating someone to make decisions for you might seem ridiculous if you’re fit and well.
So why not leave it for now?
The problem is you can only make a Lasting Power of Attorney (or ‘LPA’) if you’ve got mental capacity. That means being able to make and communicate decisions.
Also, the government body who register LPAs say it can take up to 20 weeks currently. LPAs have to be registered before they can be used, so an LPA is not something that can be completed very quickly.
If you delay, you might find it’s too late due to loss of capacity or a terminal diagnosis. The people you would want to take decisions on your behalf or, for instance, access your bank account to pay bills, won’t be able to do so.
What happens if you don’t have one?
If you lose capacity and you don’t have an LPA your family will have to apply for a court order to manage your finances.
That’s because you won’t be able to grant an LPA anymore.
Getting a court order usually takes even longer and is more expensive. Also, it puts a lot of stress on your family at a difficult time.
What kind of LPAs are there?
There are two types: one for Health and Care and one for Finances. You can make one or both at the same time.
What’s the point in them?
Granting an LPA means you get to choose the people you trust to make decisions for you. They’re called attorneys and they have to act in your best interests by law.
Your attorneys can use the Financial LPA to pay your bills, manage your investments and even sell property for you.
They can use the Health and Care LPA if you lose mental capacity. Your attorneys will be able to make decisions about what kind of medical treatment you would prefer with the same authority as if it was you talking to professionals.
How do I grant them?
You can either do it yourself here: https://www.gov.uk/power-of-attorney/make-lasting-power
Or we can do the hard work for you. Further details are available on our website or our guideline fees are available here.
Author: Katharine Vigus
