A New Year Resolution to protect yourself for years to come
The New Year isn’t only a time to make resolutions about losing weight or getting fitter…it’s also an opportunity to assess your future, especially in these times of Covid-19.
There are many ways to do this and the law can certainly play its part. One good option is to set up a lasting power of attorney (LPA) to protect your interests in case your health and mental capacity deteriorate.
LPAs enable you to nominate someone such as a family member or trusted associate to make decisions on your behalf if you ever lose the ability to do so yourself in the future through illnesses such as dementia.
The property and finance LPA allows you to appoint someone to look after your financial affairs; the personal welfare LPA lets you grant an attorney authority over such matters as health care and the kind of treatment you receive.
There are safeguards to prevent the system being abused so you can prepare for the possibility of ill health secure in the knowledge that you can leave important decisions in the hands of someone you trust.
If you don’t have such arrangements in place, your family may have to go through complicated and time-consuming legal processes just to get the authority to help run your affairs for you. That is the last thing they want at a time when they will already be worried about you and your failing health.
LPAs should be drawn up with the help of a solicitor to ensure that they accurately express your wishes and protect your interests.
No one can be sure what the future will bring them in terms of their health, but LPAs can at least ensure that their interests are protected should the worst happen.
Please contact Jonathan King if you would like more information about creating a lasting power of attorney.