This is the third in a series of features sponsored by Walter Gray & Co to guide you through a few common legal issues and how Island firm Walter Gray can help you with them.
The most-widespread common misconception about Power of Attorney is that it’s something you organise when a person can’t manage their own affairs. This is the opposite from the truth. It’s far easier for you and a solicitor to sort it out before a person’s mental capacity has been lost.
So it’s not something only needed by those in their autumn years. You’d be surprised how relevant it is to the majority of us before then.
With the one thing that you can predict about life is that it’s unpredictable, it’s worth planning both for your own peace of mind, but also to save your family and relatives possible complexities.
Protecting your future
Registering a Lasting Power of Attorney (LPA) will not only ensure that financial matters are dealt with by someone you trust when you are unable to, but also that your health and welfare matters are protected in advance.
Walter Gray can give you guidance to help you select your Attorneys – the people your entrust to execute your wishes – as well as help you create and register your LPA, which, once lodged with the Office of the Public Guardian, will ensure it can be used by your chosen Attorneys.
Why might I need an LPA?
The unpredictability of life brings with it a number of reasons why you may need to make use of Attorneys at some point in the future.
These can include losing your capacity to communicate. This could be through illness or physical condition – such as a having suffered a stroke or losing the use of your arms.
You may become elderly or frail and although you still have mental capacity, just find financial matters too much to deal with on a day-to-day basis.
Whatever the reason for needing an Attorney, by planning now, you ensure that you are in control of the decisions being made on your behalf in the future.
Choosing someone you trust
When speaking to Walter Gray, they’ll talk you through the two types of LPAs – one that deals with your financial affairs and other that deals with your health and welfare.
Deciding who to choose as your attorney can be very easy for some, but as well as being someone you trust, it’s wise to choose someone who would be good at dealing with financial matters and someone who will consider your welfare carefully.
It’s normally recommended that you choose at least two attorneys. The second attorney can act as a back-up should the first become ill or is away from the country when you need them.
Act before it’s too late
The importance of acting now to appoint your Attorneys is that the process can only happen whilst you still have the capacity to do so.
Solicitors are unable to complete an LPA application if they find that the client does not have sufficient capacity to understand the document and its implications.
Get in touch with Walter Gray
Further details can be found at their Website or by contacting their main offices.
3-4 St Thomas Street
Ryde
Isle of Wight
PO33 2ND
01983 563 765
[email protected]
Baring Chambers
13 Denmark Road
Cowes
Isle of Wight
PO31 7SY
01983 563 765
[email protected]
Please give Walter Gray & Co your business if you can. By them and other companies sponsoring features and taking advertising, you’re able to continue to read On The Wight for free – Ed
