Don’t Leave It Too Late To Get Your Affairs In Order

When most people think about getting their affairs in order, they often jump straight into making a Will so that they have peace of mind that when they pass away, their loved ones know their wishes.

The majority of people do not consider what would happen if they were no longer able to make decisions for themselves during their lifetime.  This could be due to an accident or an illness for example.

A Lasting Power of Attorney becomes invaluable in these circumstances.

A Lasting Power of Attorney is a legal document that allows you to appoint someone you trust to make decisions on your behalf if you’re ever unable to do so yourself.

There are two types of Lasting Power of Attorney (LPA):

Property and Financial Affairs LPA – this gives your Attorneys the legal authority to act on your behalf and deal with things like your bank account, paying your bills, managing investments and even selling your property, if needed.

Health and Welfare LPA – this gives your Attorneys the legal authority to act on your behalf and deal with things like making decisions about your daily care, medical treatment and consenting to or refusing life-sustaining treatment.  If, and only if, you lose mental capacity, can your Attorneys use this Health and Welfare LPA to make decisions on your behalf.

Both types of LPA must be registered with the Office of the Public Guardian before they can be used.

LPAs include sections called ‘Preferences’ and ‘Instructions’.  In the ‘Preferences’ section, the person making the LPA (the Donor) can tell their Attorneys how they would prefer them to make decisions and in the ‘Instructions’ section, they can give their Attorneys specific instructions which they must follow when making decisions.  You can include all sorts of preferences and instructions such as:-

• I wish to eat only vegetarian/vegan/Halal/Kosher food
• I wish to have regular haircuts/manicures/pedicures
• My Attorneys must not decide that I am to move into a care home unless, in a doctor’s opinion, I can no longer live safely in my home, even with support
• My Attorneys must continue to donate to charities that I have supported or for which I have set up standing order payments, provided the payments are surplus to my own financial needs

Here at Wilson Browne we advise the Donor that we can include a preference stating that Attorneys have permission to request a copy of the Donor’s Will from their Solicitors if it would assist the Attorneys in making best interest decisions on the Donor’s behalf.  We also advise that we can include an instruction stating that Attorneys may transfer any investments into a discretionary management scheme.  Without this clause, Attorneys do not have this power.  This is so managers of the scheme will be able to make investment decisions on behalf of the Donor.

Many people assume that LPAs are only needed if you are elderly – this is incorrect as mental or physical incapacity can happen unexpectedly at any age.  If there is no LPA in place, your loved ones may have to apply to the Court of Protection for the right to act on your behalf.  This can be extremely time-consuming, expensive and stressful.

Common misconceptions

“I’m married – my spouse can automatically make decisions on my behalf” – no, they have no authority to!

“I don’t need an LPA yet, I’m far too young” – that’s exactly why you need one now whilst you have the mental capacity to make one!

So, don’t leave it too late to get your affairs in order, contact Wilson Browne Solicitors on 0800 088 6004, who regularly help clients put LPAs in place and guide them through the process ensuring that everything is in order and that the documents are properly registered.