Would you like to be able to appoint a trusted individual(s) (attorney(s)) to assist you in the management of your financial affairs or to take full control of your financial affairs if you are unable to do this for yourself? If so, may I suggest a Lasting Power of Attorney for Property and Finances.
This document, once prepared and registered with the court, can be used by your attorney(s) to sign cheques, pay bills, to generally deal with your finances, sign on your behalf and they can even sell your house. Kindly note, however, the Power of Attorney does not have to be used immediately if you do not wish it, but can be kept merely to safeguard and protect you in the future.
In addition, you can also appoint a trusted individual(s) as an attorney(s) in a Lasting Power of Attorney for Health and Welfare.
This can be used by your attorney(s) to make decisions about your health, your welfare and your care, including decisions about where you should live and what medical treatment you receive if you are unable, through mental incapacity, to make such decisions for yourself.
What is common to both types of Lasting Powers of Attorney is your ability to choose any number of attorneys. You are also able to give directions to your attorney(s) or place restrictions on what your attorney(s) can or cannot do.
To ensure that you have Lasting Powers of Attorney tailored to your particular circumstances obtaining the professional advice of a Solicitor is strongly advised and will give you peace of mind. Once the Lasting Powers of Attorney have been prepared you can relax knowing that you have taken steps to assist your family in the well ordering of your affairs, if you become unable to manage those affairs yourself.
Please also bear in mind that if you do not have a Lasting Power of Attorney for Property and Finances but become incapable of dealing with your financial affairs, an application may need to be made to the Court of Protection by a family member or friend (or sometimes a stranger) for an order that a Deputy be appointed to manage your affairs. This is a costly and complex procedure which can take many months to resolve. You run the risk of having many problems with your affairs in the meantime and can cause substantial headaches to your family!