Now if you want to have a Lasting Power of Attorney it has to be completed and registered through the Office of the Public Guardian. If this is not done then if anyone becomes incapable of dealing with their affairs then all the financial institutions will not deal with any of their requirements even if it close family who are trying to deal with matters. If this is the case then the only alternative is an application to the Court of Protection, which means more time; massive paperwork to file and higher costs and fees.
You may consider at this time you are fully capable of dealing with your affairs – but what if you have an accident; sudden stroke or other illness, which totally changes your situation.
There are two types of Lasting Power of Attorney – Property and Financial – Health and Welfare
These legal documents when registered allow you to nominate people you trust to manage your day to day finances – namely your Attorneys. Make sure they are people you trust and there is more protection if at least two persons are appointed. You can make the appointments subject to conditions you want to impose but you need to be advised on these matters.
Lasting Powers of Attorney are all registered by the Office of the Public Guardian which takes up to 10 weeks to process each application. But once completed you retain with your Attorneys the final noted and registered LPA’s..
If you have followed the above process then you are now protected for any future problems or situations. It is a simple step but it will give you peace of mind
Michael Usher Wills and Estate Planners will provide a professional and effective service to assist you in registering your LPA’s