With more and more people living well into their 80’s and as recent studies show our lifespan is only set to grow, considering our life in later years is a necessity.
Considering and discussing a time where we may no longer be able to anticipate the future may feel awkward and morbid, but it is important to think about the difficulties and expense that may result if you were to develop dementia, Alzheimer’s or any other serious illness or accident, without making a plan.
We here at Tyto Law support clients in the North Lincolnshire area to ensure you can best protect yourself legally in the event of lost mental capacity.
A Lasting Power of Attorney is a legal tool that enables you to choose who you would like to make decisions for you on your behalf in case of lost mental capacity.
Benefits of Lasting Power of Attorney:
- Knowing that you can choose and appoint a person to make decisions for you in case of illness can be comforting and offer relief during this difficult time.
- Creating a Power of Attorney enables this person to be aware of this decision and your wishes, while avoiding reliance on a stranger or where trust and loyalty has not been built.
- Making a Power of Attorney helps to avoid possible unnecessary future hassle, time and expense for family or friends who may then seek this power.
- One assumption is that as soon as a Power of Attorney is appointed you lose control of decision-making relating to your finances and property, but this is not the case. You choose when Power of Attorney may come into effect, either before or only if you lose mental capacity.
- Although it’s uncomfortable and easily ‘swept under the carpet’, it is a conversation worth having. Preparing a Power of Attorney can encourage these discussions around future plans and requests.
“I don’t need to worry about that at the moment, we’re healthy and well.” Does that sound familiar? Well, you’re not alone – we all do it. And you may not need to, but unfortunately that’s something we’re unable to guarantee.
After all, crucially a Lasting Power of Attorney must be set up when you have mental capacity. It cannot be prepared once you’ve lost mental capacity.
Wouldn’t it be reassuring and encouraging to know that we have the power to do prepare and manage our future and ease the burden for our family and friends?
Get in touch with us today.