Planning for the future can be overwhelming, but one essential step that often gets overlooked is setting up a power of attorney. A power of attorney (POA) is a legal document that allows you to designate someone to make decisions on your behalf if you're unable to do so yourself. Whether due to illness, injury, or incapacity, having a trusted person in place to manage your affairs can provide peace of mind, protect your interests, and ensure your wishes are honored. In this post, we'll explore why you should consider creating a power of attorney and how it can benefit you and your loved ones.
What is Lasting Power of Attorney?
A Lasting Power of Attorney (LPA) is a legal document that allows someone (the “donor") to appoint another person (the “attorney") to make decisions on their behalf if they are no longer able to do so themselves, due to mental or physical incapacity.
There are two main types of LPA in the UK:
- Property and Financial Affairs LPA: This gives the attorney the power to manage the donor's finances, such as paying bills, managing bank accounts, or selling property. It can be used while the donor is still able to make decisions, or it can only be activated if they lose mental capacity.
- Health and Welfare LPA: This allows the attorney to make decisions about the donor's health and care, such as medical treatment, where they live, or day-to-day care needs. This can only be used when the donor is unable to make decisions themselves.
The LPA must be registered with the Office of the Public Guardian to be valid. The donor can specify the powers granted to the attorney and whether there are any restrictions on their authority.
LPAs give individuals more control over who makes decisions for them and help ensure that decisions are made according to their wishes if they become unable to manage things on their own.
Benefits of POA
1. Expert Guidance and Legal Advice
We can provide professional advice tailored to your specific circumstances. We can help ensure that the Power of Attorney is set up correctly, reflecting your wishes and avoiding any potential legal complications. Solicitors also help ensure you understand the implications of granting power to someone else.
2. Customisation of the POA
Solicitors can help customise the Power of Attorney to suit your needs. For example, they can specify which powers are granted, such as the ability to manage finances, make healthcare decisions, or both. They can also include specific instructions or restrictions to ensure the attorney acts in line with your preferences.
3. Ensuring Validity and Compliance
The process of creating a Power of Attorney can be complex, involving specific legal formalities. We would ensure that all necessary paperwork is completed accurately and that the document complies with the relevant laws, such as registering the POA with the Office of the Public Guardian. They help prevent errors that could lead to the document being invalid.
4. Protecting Against Potential Abuse
Solicitors help mitigate the risk of abuse by ensuring that the person you choose as your attorney is trustworthy and the powers you grant are clear. They can also advise on how to include safeguards, such as appointing multiple attorneys or monitoring mechanisms, to prevent misuse of the authority.
7. Ongoing Support
Solicitors may offer ongoing support and advice, particularly if your situation changes over time. For example, they can help you update the POA or address any concerns that arise during its use, ensuring that the document remains relevant and valid as your circumstances evolve.
8. Protection for the Attorney
Being an attorney comes with significant responsibilities. Our solicitors can offer advice and guidance to the appointed attorney, helping them understand their role, duties, and the best practices for fulfilling their responsibilities without the risk of making mistakes or facing legal challenges.
9. Convenience and Time Savings
Although setting up a Power of Attorney can be time-consuming, solicitors can streamline the process, saving you time and effort. They ensure that all paperwork is completed and filed correctly, reducing the burden on you.
10. Peace of Mind
Knowing that you’ve entrusted the creation of your Power of Attorney to professionals ensures that everything is in order. This gives peace of mind, knowing your wishes will be respected, and the person you choose to act on your behalf will have the necessary legal authority to do so.
In summary, using a solicitor to set up a Power of Attorney helps ensure the document is legally sound, personalised to your needs, and protected against potential misuse, providing peace of mind for both the donor and their family.
Why Choose Broadbents Solicitors?
A Power of Attorney is crucial because it ensures that your personal, financial, and medical decisions are made by someone you trust in the event you're unable to make them yourself. At Broadbent Solicitors, we understand that each person’s situation is unique, which is why we tailor our approach to suit your specific needs and preferences. Our team takes the time to listen, provide expert guidance, and ensure your Power of Attorney is customised to reflect your wishes, offering you peace of mind and confidence that your affairs will be handled as you would want.
Contact us today and our friendly team will get started assisting you with any problem you may have.
