Later Life Planning – Lasting Powers of Attorney
With an ageing population, we are finding that more and more clients are making Lasting Powers of Attorney to ensure that, should they need to, their loved ones are legally able to manage their affairs during their lifetime.
There are two types of Lasting Powers of Attorney; one relating to financial decisions and the second, relating to all day to day living and medical decisions. It is important to choose Attorneys who you trust implicitly and who will always act in your best interests.
You can still retain your independence but have the support of your loved ones. All banks, financial institutions and utility providers will ask to see a Power of Attorney if you are acting on behalf of another person – without one in place you are likely to face a lengthy administrative process before you are able to carry out any financial transactions.
If you have already made an Enduring Power of Attorney and you and your Attorneys have signed this before 1 October 2007 this is still a valid document. However, for those who have not got a Power of Attorney in place it is advisable to consider making Lasting Powers of Attorney.
We are happy to discuss the importance of Powers of Attorney with you, how you select an Attorney and the registration process if the time should come.