Wills & Lasting
A lasting power of attorney is a legal document that enables an individual to appoint someone they trust to make decisions on their behalf if they become unable to do so themselves. It is a vital document that can provide peace of mind and security for both individuals and their families, especially in the face of unexpected events such as illness, incapacity, or death.
There are two main types of lasting power of attorney: health and welfare, and property and financial affairs. The former grants the appointed person the authority to make decisions related to the individual’s healthcare and well-being. For example, they may have to decide on what medical treatments to undergo, where to live if care is needed, or what kind of social activities are best suited to the individual’s needs.
The latter allows the appointed person to manage the individual’s financial affairs. This includes managing bank accounts, paying bills, buying or selling property, and making investments. The appointed person may also have to manage any businesses or rental properties owned by the individual.
Power of Attorney
When creating a lasting power of attorney, it is important to choose the right person to act as the attorney. The appointed person should be someone the individual trusts and who understands their wishes and values. It could be a family member, a close friend, or a professional such as a solicitor.
It is also crucial to ensure that the appointed person understands their role and responsibilities fully. They must act in the individual’s best interests, follow any specific instructions laid out in the document, and keep detailed records of all decisions made on the individual’s behalf.
Having a lasting power of attorney in place can avoid the need for court-appointed deputies and help reduce stress and anxiety during challenging times. It can also give the individual greater control over their affairs, ensuring that their wishes are respected and carried out in the way they intended.
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