Why it is important to make a Lasting Power of Attorney
Since the pandemic began and turned our world upside down, seeing the rising daily death count from Coronavirus has focused many of our minds on our own mortality and what happens when we die or become incapacitated. Yet for so many people, the thought of discussing their wishes or putting arrangements in place can too easily remain on the ‘To Do’ list for another day when it needs to be on the ‘Must Do’ list.
But this isn’t just about funeral arrangements. When it comes to wills, this is also about where your money, property and personal belongings end up after you die. And in the case of a Lasting Power of Attorney it’s about who makes decisions on your behalf whilst you’re still alive, if you’re no longer of sound mind or in a position to make them yourself.
It’s important to note that lawyers who specialise in drafting wills and Lasting Power of Attorney documents were immediately recognised as essential workers during each lockdown – such is the seriousness of the situation we face. Fortunately, here at City Lawyers we have set out some important steps you can take to keep your families safe and protected if illness causes temporary incapacity to you or worse.
What is a Lasting Power of Attorney?
The easiest way to describe a Lasting Power of Attorney is that it gives you the opportunity now to appoint others to make decisions on your behalf and manage your affairs if you are incapable of doing so. Sadly, some people only think of this option when they fear something is wrong – for example spates of memory loss have you fearing Alzheimer’s. A person must have the capacity to give instructions regarding making a will and a Lasting Power of Attorney. It is therefore really important to do this while you are well and not when things have started to go wrong. Sometimes there will not be any warning and as we are sadly now all too aware, incapacitation can come on suddenly.
Lasting Power of Attorney: what you need to know
Anyone over the age of 18 can set one up.
You can choose a trusted friend or relative to look after your affairs and make decisions for you in the event you become incapacitated.
There is no specific age or time to put one in place – after all young people do have accidents and lose capacity, in turn leading to other conditions which mean they cannot make decisions for themselves.
Once you have lost capacity it is too late to set up a Lasting Power of Attorney, which is why it is imperative to plan yours in advance.
The most common conditions that spur people on to make a Lasting Power of Attoney are stroke, coma, delirium (or being in a state of acute confusion), concussion, severe mental health problems, neuro-disability or brain injury, alcohol and drug misuse, Alzheimer's and other forms of dementia. However, we already know from medical professionals that Covid-19 is causing serious and long-lasting illness.
As long as you have the mental capacity to make decisions, you can change or end your Lasting Power of Attorney at any time – especially useful if your relationship or friendship changes.
If you would like to talk to one of our specialist Wills and Lasting Power of Attorney lawyers, please contact us here