Understanding legal capacity
You can only put an LPA in place if you have the required legal capacity. This means that you’re capable of understanding the nature and effect of the document. Noone can enter into an LPA on your behalf.
Can my spouse take care of my financial affairs?
Without an LPA in place, there is no one with the legal authority to manage your affairs. Many people assume that their spouse, partner or children will be able to take care of things. Sadly, this is not the case. For someone to obtain legal authority over your wellbeing, they will need to undergo a lengthy (and expensive) application process through the Court of Protection. In the meantime, your assets would effectively be frozen.
Ok. But what about medical decisions?
The same applies. Without the legal framework of an LPA, your next of kin would not be entitled to make healthcare decisions for you. If you can’t communicate your wishes, you could end up in a care home when you may have preferred to stay home. Or you might receive medical treatments that you would otherwise have refused.
Creating your LPA
You need to be at least 18 years old to create an LPA. It must be signed by your donor, attorneys and a person known as a Certificate Provider.
The Certificate Provider confirms that you understand what you’re doing by granting power of attorney – and that you’re under no pressure to give it.
Protect your interests with a Lasting Power of Attorney
Life has a way of throwing time-sensitive curveballs at us. Avoid unnecessary delays and get an LPA in place to ensure the people who know you best can make decisions in your best interest.
At Oury Clark, we pride ourselves on straight talking advice that cuts through the jargon. Chat with a member of our team today to get the ball rolling.
