Updated: Feb 2
There are many benefits to having a Lasting Power of Attorney in place. It is a legal document that enables giving someone that you trust, the legal authority to make decisions on your behalf about your health, welfare, and finances, at a time where you may not be able to, due to illness or having an accident.
Many people think families can automatically do this, and they cannot.
There is often a lot of confusion when it comes to making a Lasting Powers of Attorney and hence is often put off or avoided altogether.
There is also a lot of uncertainty as to why it is important to put a Lasting Powers of Attorney in place (and many pitfalls when doing these).
Here are five benefits of having a Lasting Power of Attorney:
1. If you become mentally incapacitated for any reason, ie dementia, stroke, accident coma, etc, and are unable to make decisions for yourself, then your loved ones do not have the automatic right to make decisions about your healthcare and everyday finances, as one would naturally assume!
2. For someone to be able to take care of your healthcare, finances for you they need to be registered as your Attorney.
This is the golden key to having peace of mind and access to speaking with government bodies, banks, and medical health professionals.
3. Decisions about your care, medical treatments, finances and property, and everyday quality of life are made by medical staff and someone from the Council when you don’t have any Lasting Powers of Attorney in place.
4. Your bank accounts will get frozen, even if you have a joint account, meaning your loved ones cannot access their money either!
5. If you do not have a Lasting Powers of Attorney in place before capacity is lost, the cost for someone to act as your Representative through the Court of Protection, runs into thousands of pounds to have the right to be able to make decisions on your behalf.
And of course, as we very well know, life is unpredictable, and everything can change in one second.
If you would like to have peace of mind knowing that someone has your back, literally, and want to take action and get this done, then:
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