Lasting Powers of Attorney
Lasting Powers of Attorney are the new way to appoint someone to handle your affairs. They have replaced Enduring Powers of Attorney. General Powers of Attorney can still be used while the Donor (the person giving the power) is mentally capable of managing their affairs. However, if the Donor becomes mentally incapable (just when the need becomes critical) the Power is no longer valid.
Lasting Powers of Attorney can be used like General Powers of Attorney to manage the Donor’s financial affairs while they are mentally capable. However, they actually last past this point and so mean that they can be used when the donor has become mentally incapable.
There are two types of Lasting Power of Attorney – one which deals with Property and Financial Affairs and the other with Health and Welfare.
The person making the Lasting Power of Attorney (the Donor) can choose whom he or she trusts to act on their behalf. This can be one person, such as their spouse, or a mixture of people to include their children or close friends. They can protect themselves further by limiting what the Attorney is entitled to deal with and specifying whether the Attorneys must act jointly or separately.
Lasting Powers of Attorney MUST be made while the Donor is still capable of understanding what they are doing.
Part of the new requirements introduced by the government is the need for a “certificate provider” – as a qualified Solicitor Betsy is entitled to be a certificate provider which means that you are guaranteed no delay in completion of the document and no additional fee.
If a Donor loses mental capacity and does not have a Lasting Power of Attorney in place, the only option is for someone to apply to act on their behalf, as a “Deputy”. This application is lengthy, costly and inflexible.
With advances in medicine people are living longer lives and as a result mental illness is a serious concern. A Lasting Power of Attorney allows you to prepare for an uncertain future and protect yourself for a time when you may need it most.
Lasting Powers of Attorney can be used like General Powers of Attorney to manage the Donor’s financial affairs while they are mentally capable. However, they actually last past this point and so mean that they can be used when the donor has become mentally incapable.
There are two types of Lasting Power of Attorney – one which deals with Property and Financial Affairs and the other with Health and Welfare.
The person making the Lasting Power of Attorney (the Donor) can choose whom he or she trusts to act on their behalf. This can be one person, such as their spouse, or a mixture of people to include their children or close friends. They can protect themselves further by limiting what the Attorney is entitled to deal with and specifying whether the Attorneys must act jointly or separately.
Lasting Powers of Attorney MUST be made while the Donor is still capable of understanding what they are doing.
Part of the new requirements introduced by the government is the need for a “certificate provider” – as a qualified Solicitor Betsy is entitled to be a certificate provider which means that you are guaranteed no delay in completion of the document and no additional fee.
If a Donor loses mental capacity and does not have a Lasting Power of Attorney in place, the only option is for someone to apply to act on their behalf, as a “Deputy”. This application is lengthy, costly and inflexible.
With advances in medicine people are living longer lives and as a result mental illness is a serious concern. A Lasting Power of Attorney allows you to prepare for an uncertain future and protect yourself for a time when you may need it most.
