Lasting Powers of Attorney – do I need one?
We can be sure of very few things in life, death and having to pay tax are probably the only two but what about being able to always make our own decisions?
There may come a time when you simply cannot make decisions for yourself and increasingly financial services providers are requesting a registered Lasting Power of Attorney in order to allow your loved ones to help you. You can also appoint Attorneys to assist you in making decisions about your health and welfare.
A professionally prepared and executed Lasting Power of Attorney is a great safety net should you ever lose the capacity to make your own decisions.
Whilst you have mental capacity you can choose who you trust to help you later in life, you can also stipulate when they can help you and provide guidance on how they help you. It allows you to remain in control.
It is your Attorneys duty to act in your best interests, they must also do their best to help you make decisions for yourself. If you cannot they can simply act for you.
If you want more information regarding making a Lasting Power of Attorney or think now is the right time to start planning for later life give our Private Client team a call on 01422 842 451 or email daniel.rourke@finngledhill.co.uk
Daniel Rourke – July 2018
www.finngledhill.co.uk