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The Importance of Making Lasting Powers of Attorney’s


The Importance of Making Lasting Powers of Attorney’s
May 2020
The Importance of Making Lasting Powers of Attorney’s

 

These are sudden and extraordinary times that no one would predict. It shows how quickly anyone’s life can be disrupted, inconvenienced and frightened.
Who would have thought so many of us would be affected by a pandemic?
The coronavirus has upset us all in our daily routines, workplace, financial support and family contact and not by choice.

 

Be prepared
Unforeseen circumstances, such as sudden illness or accidents that have a life changing effect are not just for the older generation but can have a devastating effect on young people too.
There are ways of making sure your affairs are dealt with as you would prefer, whether you have health changes or have been isolated at home through incapacity, or abroad on holiday when events at home need urgent attention to safeguard your property.

 

It’s not automatic
Your affairs can be dealt with during your lifetime when you have lost the ability to deal with matters yourself, either through illness or accident, with a Lasting Power of Attorney.
No one has an automatic authority to deal with someone else’s affairs, not even between married couples or parents for adult children.  Instead, you have the ability to appoint people to be your Attorney under a Lasting Power of Attorney to deal with your affairs.

 

It’s complicated
If you have lost capacity to give instructions or understand, then it is up to the Court to choose and appoint a Deputy for you.  This can be a lengthy and expensive process and one that is not welcomed during times of stress.

 

Get the right help
The importance of obtaining qualified advice cannot be stressed enough, as there are so many issues and concerns for everyone today, such as; obtaining access to funds (such as income or pensions) and keeping the household running smoothly, to safeguarding particular assets or to look after dependants who may be disabled or have special needs.If you would like to discuss any of the issues raised in this article, please contact Beacon Wealth Legal on 01480 219699 or email enquiries@beaconwealth.co.uk