This could affect you.

Separate accounts? Separate property? Separate children? These days, it’s not only our families that are more complicated, but also our finances.  It’s quite common for couples to separate some or all of their finances. As well as a joint bank account, there may be other separate finances ie., ISAs, savings, credit cards, bills, investments, pensions, etc.  Even if you have a joint bank account, if one of you loses capacity (for example has dementia) the bank can freeze the joint account and ask the remaining partner/spouse to apply to the Court of Protection to allow them access to the money. However, there is something you can do now to avoid future problems.

If you are not capable of accessing your money, or selling your property or business because you have lost capacity, how can you manage?  It’s not just dementia, but also strokes, serious accidents or illness and long term hospital care that can all cause someone to lose either mental or physical capacity and with it, the ability to manage their money and property.  You may expect your loved ones to step in and help you.  Your loved ones may want to help. However, legally they can’t. You can’t even ring up the phone company or gas/electric if it’s not your name on the bill.   What can they do?

Lasting Power of Attorney

This is a legal document that allows you to decide now, whilst you are still capable, who you trust to act for you and help you manage all property and financial matters.  You may choose your wife, husband or partner.  You may want to include your children, or a trusted relative or friend.  You can choose whichever option suits you best.  

When do you need to do this?

Deciding when to make your Lasting Power of Attorney is a bit like taking out insurance.  You need to do it while you are fit and healthy and you don’t need one.  What if we don’t need it in the future?  Isn’t it a waste of money?  No-one likes to pay these costs, but it’s usually much cheaper and will make life so much easier for you than if the worst were to happen and you weren’t covered. No-one knows what the future will bring for them and by the time you and your family realise it’s needed, it may be too late.

Why use me?

I visit you at home (or work) in East Yorkshire with help and advice about all the options and consequences of Lasting Powers of Attorneys. I can assess and verify mental capacity then prepare and check all the documents.  I visit again for signing and also arrange with all the Attorneys for signing also. There are no extra charges to add extra Attorneys or Reserve Attorneys. You don’t need to have decided everything or have all this information ready, as I will talk you and your Attorney(s) through it all and you can ask questions.  If necessary, I can contact Attorneys by phone/post if they are not local.

If you want to find out more about Lasting Powers of Attorney and how they can help you or your family, please do get in touch.