Safeguard Your Future
A report by the Alzheimer’s Society revealed that it is projected that over 1 million people in the UK will be suffering with dementia by 2025. This means it is now more important than ever to ensure that that we plan for a time when we may no longer have the mental capacity to make decisions by ourselves, whilst also ensuring that such decisions are made in our best interests and by people we trust.
The idea of making Lasting Powers of Attorney is not something that is savoured, and it remains a discussion many of us are hesitant to have. Studies carried out by the Office of the Public Guardian have shown that whilst an estimated 40% of the adult UK population have a Will, less than 1% has a Lasting Power of Attorney in place. However, Lasting Powers of Attorney are just as important as having a Will to guarantee that our wishes are followed.
There is a common misconception that next of kin will automatically get a say in the affairs of a loved one if that loved one loses the ability to act for themselves: unfortunately, that’s simply not the case. The only way to ensure that someone you know and trust can act in your best interests and look after your affairs if you are not able to do so, is to put in place a Lasting Power of Attorney.
A Lasting Power of Attorney is a legal document that allows you to choose people to act on your behalf, (known as your attorneys) should you later lose the ability to manage your personal affairs because of mental or even physical incapacity.
There are two types of lasting power of attorney. Firstly, a health and welfare lasting power of attorney which enables our attorneys to make decisions about our medical care, treatment options and decisions regarding life-sustaining medical treatment. There is also a second type of lasting power of attorney which covers Property and Financial affairs. This allows our attorneys to handle our property and finances, such as managing bank accounts to buying or selling property.
At RDP Law, we offer a quality and compassionate service. You will be allocated a dedicated lawyer who will guide you through the process of putting in place Lasting Powers of Attorney.
This article was written by Sam Saysell, Private Client Solicitor.