Everybody has the right to manage their own financial affairs but sometimes due to illness, accident or disability we are unable to do so as effectively as we would want.
However, there is a way that you can give someone else such as friends or relatives the power to manage your affairs and make decisions on your behalf. This is via a Lasting Power of Attorney.
There are two types of Lasting Power of Attorney:
- Property and Financial Affairs;
- Health and Welfare.
A Lasting Power of Attorney is an important document that you make whilst you have capacity or understand what you are doing.
This allows you to decide who will make decisions on your behalf if you become too ill or incapacitated to deal with your own finances, property or assets Or, if you are unable to make decisions about your medical treatment and personal welfare.
Most people think that if they become ill or lose capacity then their loved ones, close family, or next of kin would automatically be able to deal with matters on their behalf. Unfortunately, this is not always the case.
At Martin Gaffney Solicitors we strongly recommend that everyone over the age of 60 should have a Lasting Power of Attorney in place. This service is provided at a fixed price which includes the Court fee to register the Lasting Power of Attorney with the Office of the Public Guardian.