Lasting power of attorney

Whilst everyone is aware that they should perhaps make a Will, little (if any) thought is given to preparing for unforeseen events which could happen during your lifetime.

Consider what would happen if you were perhaps incapacitated due to an accident or you had a stroke and were unable to express yourself. Perhaps you are struggling to sign cheques or are going abroad for a period of time.

If you wish someone you trust to be able to deal with your finances and deal with your property you may execute a Power of Attorney. This document could be limited to allow your appointed 'Attorney' to be able for example to deal with a house sale if you are abroad or sign cheques on your behalf. It may only be used in the way you specify and whilst you retain your mental capacity.

If you wish to extend this authority to a time when you may be unable to make decisions for yourself due to temporary or permanent mental incapacity then you should consider making a Lasting Power of Attorney.

There are detailed requirements which must be met before your Lasting Power is valid and it is required to be registered with the Office of the Public Guardian before it can be used.

There are two types of Lasting Power of Attorney - one deals with your financial matters and property and the other deals with personal and welfare decisions.