Most people are aware of the importance of having a will professionally drawn, yet many simply do not get round to preparing and signing one.
Without a will, those you’d wish to benefit upon your death may not have any entitlement. A will is vital to protect your loved ones and those you wish to inherit.
Of equal importance is having a Lasting Power of Attorney prepared. A Power of Attorney is a legal document which grants the power for somebody else, legally known as your “attorney” to deal with your affairs, such as your bank accounts, property, health and welfare in the event that you become unable to do so yourself, either through mental or physical incapacity.
It’s never too soon
Whatever your age, you should give serious consideration to preparing a Power of Attorney. Our mental welfare can be affected at any point in our lives by unexpected events such as injury or illness. If you became unexpectedly poorly, then your appointed Attorney(s) could deal with your financial affairs on your behalf to ensure nothing becomes a problem.
Your attorney could also make decisions about your health and welfare, such as consenting to medical treatment on your behalf, or dealing with the very difficult issue of whether or not you should go into care.
Avoid unnecessary stress and cost
If an Attorney has not been appointed then anyone wishing to help would need to apply to the Court of Protection; even in the case that your husband or wife had to pay your care home fees from your personal bank account.
Court of Protection applications are costly (the Court fee alone being currently £400) and can take months to process. Having someone already appointed allows the seamless management of your affairs.
It’s never too soon
Whatever your age, you should give serious consideration to preparing a Power of Attorney. Our mental welfare can be affected at any point in our lives by unexpected events such as injury or illness. If you became unexpectedly poorly, then your appointed Attorney(s) could deal with your financial affairs on your behalf to ensure nothing becomes a problem.
Your attorney could also make decisions about your health and welfare, such as consenting to medical treatment on your behalf, or dealing with the very difficult issue of whether or not you should go into care.
Avoid unnecessary stress and cost
If an Attorney has not been appointed then anyone wishing to help would need to apply to the Court of Protection; even in the case that your husband or wife had to pay your care home fees from your personal bank account.
Court of Protection applications are costly (the Court fee alone being currently £400) and can take months to process. Having someone already appointed allows the seamless management of your affairs.
