Powers of Attorney 
 
 
 
Powers of Attorney 
 
 

In order to choose who makes decisions regarding your assets and even more importantly, your health and welfare, if you were to lose either mental or physical capacity, you require a Lasting Power of Attorney.  

In order to choose who makes decisions regarding your assets and even more importantly, your health and welfare, if you were to lose either mental or physical capacity, you require a Lasting Power of Attorney.  

As people attain a greater age the downside is that this means there is a greater likelihood of suffering from dementia including alzheimers, an illness or an accident as we live longer. 
 
People tend to believe that their nearest and dearest would take over their affairs and would control their finances and medical treatment going forward. 
But if there is no Lasting Power of Attorney in place the situation becomes rather more difficult and the position of those closest to the person who has lost capacity, is devestating. 
 
When someone loses capacity they are deemed vulnerable by the Social Services, so a duty to inform their banks and financial institutions is created. These companies then have a duty to protect the vulnerable client. This means that their accounts and assets will be frozen, and simple day to day bills cannot be paid from those accounts even where the account is held jointly and the other account holder is compos mentis. 
 
If there is no Lasting Power of Attorney in place in these circumstances your family and friends will not be able to get access to: 
 
bank accounts 
control of your property 
insurances 
investments 
pay your bills 
collect pension payments 
make any payments required for your mortgage 
make any business decisions 
 
 
As people attain a greater age the downside is that this means there is a greater likelihood of suffering from dementia including alzheimers, an illness or an accident as we live longer. 
 
People tend to believe that their nearest and dearest would take over their affairs and would control their finances and medical treatment going forward. 
 
But if there is no Lasting Power of Attorney in place the situation becomes rather more difficult and the position of those closest to the person who has lost capacity, is devestating. 
 
When someone loses capacity they are deemed vulnerable by the Social Services, so a duty to inform their banks and financial institutions is created. These companies then have a duty to protect the vulnerable client. This means that their accounts and assets will be frozen, and simple day to day bills cannot be paid from those accounts even where the account is held jointly and the other account holder is compos mentis. 
 
If there is no Lasting Power of Attorney in place in these circumstances your family and friends will not be able to get access to: 
bank accounts 
control of your property 
insurances 
investments 
pay your bills 
collect pension payments 
make any payments required for your mortgage 
make any business decisions 
 
 
 
Ultimately a deputy will be appointed by the Court of Protection to make decisions on your behalf, but this is very often someone who did not know the vulnerable person previously. The role of the deputy is only to consider the person who has lost capacity, and not anyone who might rely on that person or share the ownership of assets with them. 
 
Not insubstantial fees are charged by the Court Deputy for fulfilling this role. 
 
If you do not have a LPA for Health and Welfare your nearest and dearest will not be able to decide on your medical treatment or your requirements for residential care. 
 
By having a LPA in place that means that your chosen people, those that you know, love and trust can immediately take over your finances and decide on your general welfare and any medical requirements. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Please get in touch to make a no obligation appointment or for further information 

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