It is often easy to forget that we do not only need to make provision for our loved ones after we have gone, we need to also consider what may happen should we no longer be able to manage our affairs. It is not simply age that can cause loss of capacity. Health problems and accidents can happen at any age and stage of our life. However, particularly with people living longer, there is a greater risk of losing capacity to continue to make decisions: decisions about money and spending, investments and savings; or decisions regarding our care and treatment.
By making a lasting power of attorney these issues can be addressed long before this possibility becomes a reality. By careful choice of attorney/s you can give yourself peace of mind, knowing that, should such a situation arise, decisions are made by the person or people you trust and have specifically chosen. *
Of course you can compete an online form and submit it yourself, and hope that should it be needed everything is in order. However, without knowing the pitfalls associated with certain appointments and ways of selecting and authorising your attorney/s it is easy to make mistakes which can prove costly and sometimes a total waste of registration fees. It may even not work for the decisions needing to be made at a time it is needed. At best, a further lasting power of attorney may need to be made covering the required authority moving forward provided you still have capacity. At worst, it may be too late to make a new one because you have already lost capacity. This will inevitably cause further delays and incur added costs, at a time when a properly and professionally drafted power could have enabled transactions and decisions to be made with the minimum of fuss. At a time when loved ones may be facing the trauma of your loss of capacity, to face the reality that a document you have prepared is useless, is not only frustrating but also pointless
Using a professional to draft your power of attorney should ensure that all your concerns are addressed. We will advise as to who to choose as attorneys, how many and how to appoint them to make decisions for you. We will also go through the forms carefully with you, and guide you every step of the process. We will certify your capacity (unless we have concerns as to this, in which case we will recommend a specialist certificate provider) and ensure of any persons you wish to be formally told of your application are notified and attend to the registration of the power/s so that it/ they can be used should the need arise. We can provide certified copies of the registered powers for use by your banks and other institutions which need these, for your GP and other healthcare professionals, and for you and your attorneys. We are also on hand to help you and your attorneys fully understand the power/s; what can and cannot be done!
For a one off fee you can be assured that your power of attorney can be used when needed and is not going to be a useless document because you cut corners and hoped for the best by simply completing a form online and paying in your fee.
A power of attorney is an important legal document that gives authority to others to make decisions for you. It is vital that it is done correctly and you and your attorney/s understand fully, not only the implications of what you are doing but how the power must be used
We at RMP are committed to giving you the best advice and working to meet your requirements in a friendly and approachable way. The costs of not taking proper advice cannot be underestimated.
Don’t delay. Book an appointment today. Call Elisabeth Whybrow on +441213184707 or email eaw@ritchmuellerpartners.com .
For further information, you may wish to visit the Solicitors For the Elderly website: http://www.sfe.legal/
*The alternative, should you lose capacity, is that a court has to decide who is best placed to do this. They can only decide after submission of paperwork, including details of your money and spending, a medical report and report as to the finances and circumstances of your proposed representative. Further, relatives need to be notified and have the right to object to any possible appointment whether or not they are even in close contact with you. It is then for the court to decide what may or may not be in your best interests and who you may or may not have chosen to represent you had you thought about matters before losing capacity. As you might imagine this option, called Deputyship, is costly and time consuming. It means that, whilst the court is deciding on your future, money is tied up and inaccessible for such things as payment of care fees and ongoing expenses. The process take many months with substantial legal and medical costs upfront as well as ongoing costs consequences in court fees and insurance costs, all payable out of your hard earned savings.
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