If you can’t make decisions for yourself, somebody needs to look after you, manage your finances, support you and make important decisions for you. To enable them to do this without getting a court order you must set up a Lasting Power of Attorney.
There are two types of lasting power of attorney:
- 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.
The people who will manage your finances are called your ‘attorneys’, and they’re usually friends or family members. Your attorney should be someone you really trust.
For most people, that’s their husband, wife, partner, another family member or a close friend.
You should also choose at least one replacement attorney who would take over if your attorney died or could no longer act for you.
You must have the capacity to make your own decisions when you set up a power of attorney.
It’s a good idea to get it set up well before you need it. It’s much harder and more expensive for someone to help you with your money and property if you’ve already lost mental capacity.
And if you get it set up now, it’s there if something happens to you suddenly like an accident or a stroke.
Setting it up doesn’t mean you must give up control. Your Attorneys can only act with your permission until and unless you lose your capacity to give that permission.
Freedom Wills is one of the leading independent Will Writers in the South East.
We are a small, friendly and caring company and every client will get our time, our help, our honest opinion and thorough advice and explanation of the whole process and the legal issues involved.
This is what we promise. We will return your calls, answer your emails and queries and try to work within the timescales agreed. Our fees are extremely competitive and represent fair value for the work we do on your behalf and the personal service and attention you will receive.
Our clients have said, time and time again that we make everything sound straight forward and less complicated than they thought it would be.
Every Will or Power of Attorney we make or Trust that we set up is covered by our comprehensive Professional Indemnity Insurance and so if things go wrong at any time you or your loved ones are fully protected.
Our team is fully qualified to offer these services. Our Director, Gary Morgans holds the Society of Trust and Estate Practitioners (STEP) Advanced Certificate in Will Preparation (England and Wales) and is an Associate Member of STEP and a full member of the Society of Will Writers (SWW).
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