Prompted by discussions with a client this week, we urge you all to think ahead when arranging your Lasting Powers of Attorney or if you have already made yours then perhaps now is the time to review them.
There are two types of Lasting Powers of Attorney in England and Wales:
Whilst you are of sound mind and body you appoint people to look after your health and/or your wealth in the event of you not being able to due you physical or mental incapacity. You appoint people that you want to look after your affairs, a certificate provider e.g., doctor, financial adviser, lawyer signs to certify that you are under no duress and of sound mind when appointing your attorney(s). This is then sent to the Office of the Public Guardian to be registered. There is usually a fee for this unless you are on benefits or a low income.
The clients that we spoke with this week made their Lasting Powers of Attorney in 2011. At the time, they were in their mid 60s, fit, healthy and travelling widely as they enjoyed their retirement. The problem was that they did not think ahead when makings their LPAs. They appointed:
The problem is that mother and father are both over 75 now and starting to slow down, both physically and mentally. This means that if either one of them or both loses their capacity, the daughter cannot act until one of them dies as the daughter is only a reserve attorney unless they approach the Office of the Public Guardian to take control and this may involve protracted dealings with the OPG, doctors and more.
Appoint Someone Younger
Always appoint a younger full power of attorney if you are appointing your partner of a similar age rather than appointing them as a reserve. By doing this, you have thought ahead. Do not think about what you are like today when making your Lasting Powers of Attorney, imagine you are in your 70s, 80s or 90s and plan your appointed attorneys.
Need To Change Your Lasting Powers of Attorney?
Remember, think ahead, think like you are in your 70s, 80s or 90s with LPAs.