You might think that a lasting power of attorney is something that only older people need to worry about. After all, you are young, healthy and independent. You have your whole life ahead of you. Why would you need someone else to make decisions for you?
The truth is, a lasting power of attorney is not just for the elderly or the ill. It is a legal document that allows you to choose someone you trust to act on your behalf if you ever lose the ability to do so yourself. This could happen due to an accident, a stroke, a mental illness or any other reason that affects your mental capacity. Sometimes a lasting power of attorney will also be helpful to those that still have mental capacity, but perhaps are physically unable to do things. This very important consideration recently featured in the Sunday Times.
Without a lasting power of attorney, your loved ones could face a lot of difficulties and expenses if they need to access your money, property or medical records. They would have to apply to the Court of Protection or equivalent, which can take months or even years, and cost thousands of pounds. They might not even get the person you would have wanted to look after your affairs.
A lasting power of attorney can give you peace of mind that your wishes will be respected and your interests will be protected, no matter what happens. It can also save your family and friends a lot of stress and hassle in a difficult time.
There are two types of lasting power of attorney: one for your property and financial affairs, and one for your health and welfare. You can choose to make one or both, and you can appoint different people for each role. You can also specify what powers you want to give them, and when they can use them.
Making a lasting power of attorney is not complicated, but we would recommend you obtain specialist legal advice when doing so.
The sooner you make a lasting power of attorney, the better. You never know what the future holds, and you don’t want to leave it too late. By planning ahead, you can ensure that your voice is heard and your dignity is preserved, no matter what.