How can I support my parents?
As our parents age, a little extra support with shopping and money matters may be all they need.
Not everyone can keep up with technology changes as they get older. Mobility issues can stop them getting out and about.
Are your parents more forgetful?
There is a way for you to support your parents, without them giving up their independence. They simply choose the people they trust to be their attorneys in a Lasting Power of Attorney.
It’s easier than you think to have a conversation with your parents about their thoughts and wishes for care in later life. Why not share this blog post with them as your conversation starter?
Tell them that a Lasting Power of Attorney is a little like an insurance policy. You hope you never need it but it’s invaluable if you do.
You cannot make Lasting Powers of Attorney for your parents. They must do this themselves.
Choice not chance
With Lasting Powers of Attorney you allow your family the legal authority to care for you as you would wish.
There are two types of Lasting Power of Attorney:
Property and Finance
This LPA allows the people you choose (your attorney/s) to look after your financial affairs when you are no longer able the
Health and Welfare
This LPA allows your attorney/s to make choices about your healthcare and personal welfare. It also covers your choices for life-sustaining treatment.
You need both Lasting Powers of Attorney if you want your attorneys to take care of your property, finances, as well as care for your more personal needs.
Lasting Powers of Attorney must be registered with the Office of the Public Guardian before they can be used
Benefits
An LPA can be used as a general power of attorney while you are mentally and physically well.
For example, if you had to go into hospital for a few weeks, or were away on an extended holiday your attorney(s) could look after your financial affairs for you.
You cannot make a Lasting Power of Attorney if you are diagnosed as suffering from mental incapacity. You MUST make this decision whilst you are fit and well.
Safeguards
There are several safeguards in place to make sure that your attorneys act in your best interests. A registered LPA gives you the comfort of knowing that the people you have chosen can take of your affairs.
You will need a
Certificate Provider
- a professional who can assess your mental capacity and has knowledge of the relevant Mental Capacity legislation, or a friend who has known you for at least two years and is happy to sign to confirm your full understanding of the process and that you have not been pressured to make an LPA by another person.
Who can make Lasting Powers of Attorney?
Anyone who is over 18 and capable of understanding the document (known as the Donor).
We advise all our clients to consider having Lasting Powers of Attorney regardless of their age. Anyone could suffer from an illness or accident that means that they cannot manage without help. An LPA can provide peace of mind for everyone, whether they are 18, 108 or anywhere in between.
What decisions can my attorney make for me?
Your attorney/s can make any decisions that you can make regarding the day-to-day running of your financial affairs, such as:
Operating, closing or opening bank accounts
Instructing agents (solicitors, estate agents, Independent Financial Advisers) for you
Claiming and receiving benefits for you
Dealing with your tax affairs
Paying your household expenses
Buying, selling or letting your property
Paying for your medical treatment or nursing care fees
Making small gifts from you (for birthdays etc) if this is your usual routine
Who can be appointed as my attorney?
Anyone over the age of eighteen can be appointed. Usually it’s a close family member or professional.
It is important to remember that the Attorney will have complete control of your finances. You can choose to impose conditions or restrictions if you want them to act in certain ways.
Your attorneys must only make decisions that are in your best interests.
How many Attorneys can I have?
There is no limit but between two and four is sensible.
If I have short-term memory loss, can I still make an LPA?
The Mental Capacity Act 2005 sets out the assumption that everyone has capacity unless or until it is clear that they do not.
Carisma Wills consultants are trained to carry out an initial assessment of mental capacity to make a Will or Lasting Powers of Attorney. If we are in any doubt, we will ask you to obtain the written opinion of a medical practitioner (your GP) or a Mental Capacity Advocate. We can recommend a capacity advocate who will charge for their services.
You may be able to make Lasting Powers of Attorney, even if your memory is not as good as it once was. We will help you if we are certain that you understand the powerful nature of this legal document. We also need to be sure that you acting without pressure from anyone else.
Can we help?
If you would like any help or guidance about making your Lasting Powers of Attorney please get in touch.
We can draft your documents for you and guide you through the process.
Checking service
We also have a new Lasting Powers of Attorney pre-registration checking service. If you’ve made your own Lasting Powers of Attorney online, we can cast an expert eye over the printed form for you. Our fee will depend on long we need to spend on checking and feedback.
