Most people understand the importance of making a Will even if they prefer not to think about it but the Will is all about what happens when you are no longer around however very real and distressing problems can arise when you are still around but no longer able to deal with your own affairs e.g. through illness.
Simple things like dealing with utilities, mobile phone companies, banks and building societies all become impossible. To access accounts an Application must be made to the Court of Protection which is an expensive and lengthy process and of course the person who applies to the Court of Protection may not be the person that you yourself would have chosen to look after your financial affairs.
An easy and cheaper alternative is to put in place a Lasting Power of Attorney property and financial affairs in which you choose the person or persons you would be happy to trust to look after your financial affairs for your benefit. Restrictions can be included within the Lasting Power of Attorney such as that the power cannot be used until such time as you have lost mental capacity and guidance about how you would like the money to be used can also be included.
As of 1 July 2015 this process will become even easier as new Lasting Powers of Attorney forms are introduced and certain requirements such as to have on occasion two Certificate Providers to confirm you are of sound mind and are not being coerced into making the Lasting Power of Attorney are to be withdrawn.
Powers of Attorney can be particularly useful for those living on their own by giving them the security and confidence that should they no longer be able to deal with their own affairs those affairs have been entrusted to someone they have appointed themselves who will act in their best interests.
We believe that Powers of Attorney are so important that we are happy to see clients to discuss this matter by way of a free no obligation appointment. At that appointment a fixed fee quote will be given to prepare a Lasting Power of Attorney which will empower you when you no longer have the power yourself. For an appointment please feel free to contact us on any of: (0191) 284 0363; (01670) 351251; (01670) 515182 or by via our website www.carrandcosolicitors.com