MAKING A WILL IS ONE THING …. BUT WHAT IF SOMETHING HAPPENS TO YOU DURING YOUR LIFETIME?
Most people acknowledge that it is important to organise their affairs for when they die. However, few people make provision to organise their affairs should they become unable to look after themselves. This is an ever increasing possibility given the advances in medical care.
Did you know that in the last two years, £3 billion was seized by the Court of Protection from individuals who lost their mental capacity.
What might happen if you lose capacity?
• If you lose capacity whether temporary or permanent, it may cost £3,000 to setup the arrangements to deal with your affairs. It can also take up to 10 months to setup.
• Someone has to be appointed by the Court to make decisions on the clients behalf (and is known as a Deputy).
• If no one from the immediate family is suitable to become the Deputy, then further charges of £800 per year for a lawyer is required plus their additional expenses.
What can Private Will Services do to help you avoid those costs and problems?
• For your financial affairs, we can provide a Property and Financial Affairs Lasting Power Of Attorney (LPA).
• This LPA enables you to appoint people of your choice to look after your financial affairs in the event of mental incapacity.
• These arrangements are made when you have the capacity. Leaving it too late will cause you to lose the ability to make the LPA.
• You can choose whether your LPA comes into force straight away, or only if you are mentally (and/or physically) incapable of managing your finances.
• An LPA can only be used after it is registered with a Government body called the OPG.
• In the registration process You and anyone that you elect are notified at that time and can object to the registration of the document.
• There is also another type of LPA called a Health and Welfare Lasting Power Of Attorney
• A Health LPA enables you to appoint people of your choice to deal with your personal and medical affairs,
• A Health LPA can only be used if you have lost capacity to make decisions yourself.