Setting up a Financial Power of Attorney or a Health and Welfare Power of Attorney allows someone that you trust to act on your behalf should the need arise. Your chosen person (attorney) can then manage your affairs in your best interests. This could be in the long term or until such time that you are able to take up the reins again yourself.
There are two types of LPA, both of which The Will Maker can help you with:
A Property and Affairs LPA
This allows your nominated person to:Manage your finances and property
Make sure your bills are paid
Make decisions about your assets
A Health and Welfare LPA
This allows your nominated person to:Make decisions about your medical treatment
Decide whether it’s best for you to continue to live at home or residential care would be more appropriate.
If you haven’t set up your Financial Power of Attorney or Health and Welfare Power of Attorney, your loved ones may have to pay out a lot of money on your behalf. The Court of Protection would have to appoint a deputy to manage your affairs, which is both time-consuming and costly.
A Lasting Power of Attorney will avoid the distress of a delay and also preserve your assets to pay for the care you may need in the future.
With The Will Maker, setting up a Power of Attorney is a pretty straightforward process. Simply contact us and we can give you more details or arrange a meeting.