If for any reason, someone becomes incapable of making decisions for themselves, a Lasting Power of Attorney gives another person or persons the right to make decisions on their behalf.
This service is offered through Countrywide Legal Services Ltd. Neither Frog Financial Management or First Complete Ltd accept any responsibility for the service or advice provided to you through Countrywide Legal Services Ltd.
To make a Lasting power of attorney you must be mentally capable – so putting it off now might mean that it cannot be done later. You may decide to prepare a Lasting Power of Attorney for yourself in the event you became a victim of an accident or serious illness.
The person(s) you appoint when making a Lasting Power of Attorney as Attorney must act in your best interests, and your money and assets remain yours. However, it is possible place restrictions on them within the Lasting Power of Attorney if you feel you want to.
What happens if there is no Lasting Power of Attorney?
Your relatives will have to apply to the Court of Protection, so that your Receiver can be appointed. This means without a Lasting Power of Attorney the choice is taken away from you, which can mean someone you don’t know will take control of your affairs.
Who should I choose to act for me in my Lasting Power of Attorney?
It’s essential you choose who you would like to act on your behalf with care. Choose people you trust to act in your best interests when making a Lasting Power of Attorney; consider how people manage their own affairs. Consider appointing a friend, relative, or a professional as your Attorney, which will allow that person to act on your behalf. When making a Lasting Power of Attorney it’s a good idea to appoint a second Attorney to make sure this power is not misplaced.
Why has a Lasting Power of Attorney?
There are approximately in excess 55,000 people registered with the Court of Protection who are deemed mentally incapable to act on their own behalf. Without a Lasting Power of Attorney these peoples’ affairs are placed under the control of the Court who appoints a Receiver to act on the persons’ behalf, and the Receiver is accountable to the Court.
As well as coming to terms with the grief and emotion of the illness, without a Lasting Power of Attorney you and your family will have the additional strain of dealing with the Court for every decision. It is possible to apply to the Court to become the Receiver, but this will take time and money. Furthermore, you are still restricted as to what you can do without the Court's permission.
How is a Lasting Power of Attorney drawn up?
Many people prefer to retain the services of a solicitor to draw up a Lasting Power of Attorney although this is not mandatory. However the Lasting Power of Attorney is approached, its importance cannot be underestimated for the peace of mind of your loved one and yourself to cover any future crisis.
Your Attorneys may need to register the Lasting Power of Attorney, with the Court of Protection.
What does a Lasting Power of Attorney offer?
A Lasting Power of Attorney covers responsibility for healthcare decisions as well as financial affairs.
Lasting Power of Attorney for Property and Affairs
A Lasting Power of Attorney for Property and Affairs empowers the Attorney, so they can make decisions about the Donor’s property and affairs or pre-specified matters relating to these. This could be purchasing property in the Donor’s name, selling property owned by the Donor, (including the Donor’s house), administration of their investments, take over the running of their business and take decisions about the Donor’s healthcare, etc.
You can set legally binding limitations and conditions on your Attorneys’ powers and the extent of authority they have within the Lasting Power of Attorney.
Lasting Power of Attorney for Welfare
A Lasting Power of Attorney for Welfare covers decisions about a Donor’s personal welfare including where they live, how they are cared for and what healthcare they receive. This could include the choice of sending the Donor to live in a nursing/care home. However, payment to the nursing/care home can’t be made using just the Lasting Power of Attorney for Welfare, but has to be in conjunction with a Lasting Power of Attorney for Property and Affairs. Attorneys of a personal welfare Lasting Power of Attorney will only be able to use this power if the Lasting Power of Attorney is registered and the Donor can’t make the decision by themselves.
Revoking or cancelling the Lasting Power of Attorney
The Donor can terminate the Lasting Power of Attorney at any time (assuming they are mentally capable).
It is worth noting that if a spouse or civil partner is the Attorney, or Donor, divorce will automatically revoke the Lasting Power of Attorney.
A Lasting Power of Attorney for Property and Affairs is automatically cancelled if the Attorney or the Donor becomes bankrupt.
A Lasting Power of Attorney for Welfare is not revoked by bankruptcy.
Lasting Power of Attorneys are not regulated by the Financial Services Authority. Source of infomation on this page: Countrywide Legal Services, 2010.
