A Lasting Power of Attorney enables you to appoint one or more people, (called “Attorneys”) to deal with your finances, welfare and business, should the need arise. A Lasting Power of Attorney is extremely useful to ensure that someone can make decisions on your behalf, should you lose the ability to make the everyday important decisions in life.
It avoids the costs and delays of someone (not necessarily a person of your choosing) applying to Court for a Deputy to be appointed. It is never too early to put a Lasting Power of Attorney in place. A Lasting Power Of Attorney gives you the peace of mind that people you trust will be able to make decisions for you, if necessary.
Enables your Attorneys to pay bills, sign cheques and all documents relating to investments and money, buy and sell property, and so forth. The Power can, however, be limited to deal with only certain aspects of your affairs, if you wish.
Enables your Attorneys to decide if specified medical treatment is to be carried out. Plus, what type of care you receive and who provides it, where you live, and who visits you. It can even go as far as the day-to-day decisions such as what you eat and wear if you are no longer able to make those decisions yourself.
Enables your Attorneys to make decisions regarding your business. If you are a sole trader or the sole Director of your company and were to have a stroke, be diagnosed with Alzheimer’s Disease, have an accident, or otherwise be incapable, no one else may be able to make decisions on behalf of your business. If you are in a partnership or a Co-Director with others, it could put your business at risk.