IWC offer help and advice for those who want to prepare for what will happen if they become incapacitated. We can arrange either a limited power of attorney or prepare the Lasting Power of Attorney. This ensures your affairs are dealt with in accordance with your wishes if you were ever to lose the mental capacity.
While many people write a will to make sure their loved ones are provided for if they you die, this is not a complete contingency plan. Have you ever thought about what would happen if you were left mentally unable to make decisions because of an accident or illness? This may be a difficult subject to contemplate but it's vital to make provisions to determine who will handle your affairs if the worst were to happen.
Our case study is a true story, which demonstrates the terrible consequences of not doing so. Care home fees of £1000 per week are being paid from the estate and a lengthy application to the courts for a deputy-ship order is costing the family in excess of £2000. Basic wills do not cover every eventuality, the addition of an LPA may cost more initially but the alternative is much worse.
Call IWC for expert advice on any issues relating to power of attorney, or follow the link to find out about making a will with IWC.
Who to Appoint
Your attorney could be your spouse or partner, a family member or even a close friend. They must make decisions in your best interests, that benefit you and keep your affairs in complete confidence. They must be over the age of 18 and have not been declared bankrupt (for financial LPAs). Many people choose non-biased, professional companies like specialists IWC to handle their affairs for them.
Different Powers of Attorney
The ordinary power of attorney is a document that you would use if you were temporarily unable to handle your own affairs, for example, if you were abroad for an extended period of time.
Enduring Power of Attorney
This has now been replaced by the more secure and complex lasting power of attorney UK. Any EPA signed before the 1st Oct 2007 is still valid. If you're concerned, call us.
Lasting Power of Attorney
A Lasting Power of Attorney (LPA) enables your family or appointed representative to take over your affairs in the event that you become incapacitated. It is normally created at the same time you make a will.
This cannot be enforced until any such illness occurs. The document must be lodged with the Court of Protection before it can be used. There are 2 types of LPA, one for financial matters, the other for health and welfare.
A financial lasting-power of attorney lets you elect someone to make property and financial decisions for you. This includes the simple handling of your finances such as paying bills or collecting your benefits and more serious financial decisions such as whether to sell your property. (Read more about the LPA's)
A health and welfare LPA allows you to choose someone to make medical decisions on your behalf. This concerns issues regarding medical treatment, life-sustaining treatment, accepting or refusing types of healthcare or whether you move into residential care. (Read more about the LPA's)
What is a Deputyship?
This is obtained via a court order, where a person failed to make an EPA or LPA and is now unable to manage their own affairs. A close relative would need to make a deputyship application to the Court of Protection, to allow them to manage their affairs. This can be a complex, lengthy and expensive procedure for loved ones to go through. That's why it's advisable to prepare for these eventualities well in advance and organise yourself. (Read more about Deputyship)
Don't leave anything to chance; IWC can visit you at home to draft a single or joint will and LPAs. We offer a nationwide will writing service and can also help you with deputyship applications. We are;
Qualified - Professionals at IWC are highly qualified to assist you, with either full STEP membership or Law degree certified or members of one of the Willwriting regulatory organisations.
Specialists - We are a specialist Will Writing and Probate company, with our Willwriting partners we are fully conversant in current incapacity, inheritance, and tax laws.
Fully Insured - IWC are Regulated by the Society of Will Writers & Estate Planning Practitioners, our partners are also members of either the same organisation or the Institute of Professional Willwriters and or the European Association of Willwriters
For more details on any of our power of attorney products please call us free.