Some of the most important things for you to consider in your life often get put off because at the time it’s not a priority or you simply don’t want to think about it before you really have to. Considering your future now as to what may be needed when getting older is extremely important to ensure someone you trust makes decisions on how
your affairs are dealt with if you became unable to manage through ill health or a loss of capacity. You can ensure this happens with a Lasting Power of Attorney.
At the beginning of July 2015 new style forms were introduced by the Office of the Public Guardian to try to encourage people to put Lasting Powers of Attorney in place. Under this new style there’s no longer a requirement for a second certificate provider, this is an impartial person who certifies that you know what you’re doing and you understand the significance of the document. Other safeguards do remain in place, including the need for an independent witness and someone certifying that the person has capacity. The requirement for a signature and witness for the life sustaining treatment section has also stayed the same.
Whilst the forms themselves have been simplified, it is still extremely important to thoroughly think this through, take advice and understand all elements before beginning the process of selecting which Powers of Attorney are right for you. With such a large responsibility you must ensure you have selected the right people and you understand the risks involved. According to a recent KPMG survey, fraud committed within families increased fivefold last year which has been put down to a greater life expectancy leading to family members turning to fraud to access their inheritance quicker.
PowellsLaw are here to help guide you through these important decisions, assist you with acting as a certificate provider, registering an EPA or LPA with the Office of the Public Guardian and ensuring that any required people are served beforehand. We can also provide advice to your chosen attorneys regarding their status. In some cases if you have no family to act as an attorney you can appoint our Partners to manage your financial affairs in the event that you were no longer able to manage.
Click here for more information. Or to discuss your options further contact Jenny Brading, who is the Associate within our specialist private client team on 01934 637931 or email her email@example.com.