As well as getting a Will drawn up, we also strongly recommend you get Lasting Powers of Attorney in place.
There may come a time in your life when you are no longer able to administer your financial affairs effectively due to old age, dementia or other serious illness, or you may just need a hand in dealing with these.
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Appointing an Attorney
Also, it is possible you may become mentally unable to take medical or other health and welfare decisions.
You can prepare for these rougue apostrophe in scenarios by putting in place Lasting Powers of Attorney in favour of a family member or close friend, or in some cases a professional – although we feel it is better if you can find someone close to you to act. It will give you peace of mind knowing that someone you trust has control over decisions you want to be made on your behalf if you lose capacity to make them yourself.
If you run your own business it is very important that you appoint an attorney to deal with the financial side, should you not be able to do so yourself. This could be a business partner or professional adviser.
It is also possible to appoint an attorney to make decisions about your health and welfare, in circumstances where you lack the mental capacity to make decisions yourself.
Once you have lost mental capacity it is too late for you to make a power of attorney, which is why it is prudent to do so whilst you are still healthy. These are not just for older people, a young person may lose capacity through accident or illness too.
The Court of Protection can appoint a