Power of Attorney
Whereas a will is used to make sure your wishes are carried out when you die, a Lasting Power of Attorney (Continuing Power of Attorney in Scotland) can be set up to make sure that your wishes are followed if you are still alive but lack capacity to make your own choices and decisions.
By doing this you are making sure that someone that you nominate will be acting in your best interests.
This can obviously only be done when someone has full capacity - if left too late then the next of kin will have to deal with the Court of Protection which can be a very lengthy and very expensive process. The power of attorney can only be used when you are deemed unable to make decisions for yourself.
In England, there are two types of Power of Attorney, you can set one up or both:
A property and financial affairs lasting power of attorney lets someone manage all your financial affairs – for example, running your bank and savings accounts, managing your tax affairs, and buying and selling investments and property.
A health and welfare lasting power of attorney lets someone make decisions about your health, care and welfare – for example, what medical treatment you receive and whether you move into a care home.
It can be a longer process to set-up a Power of Attorney, so if this is something that you are considering, please don't wait and contact us today to discuss your requirements and see how we can help you.
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