The importance of making Lasting Powers of Attorney
Tuesday, August 10, 2010 at 5:11PM As we are all aware, making a will to ensure that your estate is distributed as you wish after your death, is extremely important.
We do, however, often forget about what would happen if we were incapable of looking after our own affairs during our lifetime.
If a Lasting Power of Attorney is not made, the Court of Protection can take control of your assets and your spouse or family would have to contact them in order to release funds. It is therefore imperative that you make a Lasting Power of Attorney whilst you are still capable of doing so in order that should anything happen, people that you trust can and will look after your affairs. The document has to be registered with the Court of Protection before it is used; there is a standard registration fee at the time of writing charged by the Court of Protection of £120.00.
You can choose anyone you trust to act as your attorney provided they are over 18 and not bankrupt when they sign the form. You can appoint more than one person to act. You can also appoint replacement attorneys. If you appoint more than one person, you can choose whether they can act together or together and independently. You can state that your attorneys must act together for some decisions but for others they can act independently. Your attorneys must follow the principles set out in the Mental Capacity Act when they are making decisions or acting on your behalf. They must always act in your best interest and consider your needs and wishes as far as possible. When possible, attorneys should take all practical and appropriate steps to help the donor make the particular decision. An attorney must consider the donor's past and present wishes.
As discussed above, if no Lasting Power of Attorney has been made, the Court of Protection will appoint a deputy to make decisions for the person who has lost capacity. The deputy order will set a time limit to the person appointed together with any restrictions that may be involved. The costs involved are also high and relevant documentation regarding spending will need to be forwarded to the Court of Protection.
Kidwells Law Solicitors provide a comprehensive service, whether you require a new will or to revise your existing will; to create Lasting Powers of Attorney or would like to appoint a trusted and fully regulated legal advisor to act as the executor of your estate after your death. We will always act in your best interests and never sell you services you don't require.
It is important to note that, unlike un-regulated will making service providers, solicitors such as Kidwells Law are covered by appropriate indemnity insurance. Kidwells Law are also accredited with the Law Society's highest standard of excellence, the Lexcel award. Isn't it good to know that your most important of affairs are being handled by someone you trust.
Please contact us to discuss this in more detail on 01432 278179 or ask our expert Teresa Ingarfield at ti@kidwellssolicitors.co.uk
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