Lasting power of attorney: Not just for the elderly

According to the Alzheimer's Society, it is predicted that by 2025, more than 1 million people in the UK will have dementia.

Mental and physical incapacity can affect many of us at any time in our lives, whether this is you or a loved one. Many mental and disability charities are recommending to plan ahead so your loved ones aren't affected by a financial burden when they pass away.

Writing a will is very important as it ensures your possessions and money are left to the ones you wish when you die, but there are few of us that consider something called lasting power of attorney.

A Power of Attorney gives another family member or individual the legal authority to look after your finances, and make decisions should you lose the capacity to do so. Generally, most of us assume this relates just to the elderly, however younger people are also affected and unable to deal with these matters during an illness.

If you wait too long to apply for Power of Attorney, this will result in long delays and expense to your family members. They will have to apply to the court of protection to get access and take control of your assets and finances.

You can appoint anyone your trust as your attorney. They must be over 18, not be bankrupt and be willing to take on the role. It is important that they understand this is a serious responsibility.

Your attorney will make all decisions in your best interests by following the guidelines as set out  in the Mental Capacity Act. This means you are encouraged to make your own decisions where possible. You may also wish to restrict or specify what decisions the attorney can make until you can allow them to make all decisions on your behalf.

London Power of Attorney Solicitor, Lee Chadwick, have dealt with many probate, wills and family matters covering the Oxford and London areas. Our legal team will be available to call if you need assistance which means you don't necessarily have to see your solicitor face to face.

Lee Chadwick

Power of Attorney Solicitors

Witney, Kidlington,  London, Oxford & Oxfordshire.