The Lasting Power of Attorney
There may come a time in your Life , when due to the fact that you are incapable of managing your Property and Financial Affairs or your Health and Welfare , when you will need someone to do this for you.
Data Protection Laws (GDPR) states that no one would be able to access your affairs unless you have given them legal permission. To give someone legal permission to act on your behalf, you have to have Lasting Power of Attorney Documents completed and submitted to the Office of Public Guardian who will then issue a Certificate to you that will enable the Person or Persons that you have chosen to act either as soon as you receive the Certificate or when you lose mental capacity.
More than 70% of those who pass away each Year, die in intestate. This usually means one or two things:
- No Will was made.
- A Will was made, but could not be found at the critical time.
There are two types of Lasting Power of Attorney (LPA)
- Property and Financial Affairs.
- Health and Welfare
Property and Financial Affairs allows the Person or Persons that you have nominated to access your Affairs to manage all your Financial and Property Affairs.
Health and Welfare allows the Person or Persons that you have nominated to make decisions about your Health and Welfare, including:
- Discuss your medical Affairs with you GP.
- Make decisions to refuse or consent to Life sustaining treatment.
- Make decisions about where you live.
The main Consequences of not making a Will
- If you don’t make a Will, you are said to have died ‘intestate’. Many People make the grave mistake of believing that their Children or Partner will automatically inherit their Legacy. This is not always the case because intestacy rules decides what happens to your Legacy.
- Making a Will is the only way you can ensure that your Estate is dealt with in accordance with your wishes after your death. It is therefore extremely important that you take the time to make a Will after you have worked so hard to accumulate your Possessions, Property, Monies etc.