Increased Options with Lasting Powers of Attorney

Take advantage of what's now available, says Ian Macara, Partner in Bennett Griffin's Private Client Team.

My column in the September issue provided advance warning of the demise of Enduring Powers of Attorney. This month I summarise how new Lasting Powers of Attorney are now the principal means for you to choose who will manage your affairs, should you be incapable of coping yourself, through accident, illness or simply old age. So, what's new with Lasting Powers of Attorney?

Firstly you will now have the opportunity to make a Personal Welfare Lasting Power of Attorney, and in addition you can still make one concerning your Property and Financial affairs. This means you can now direct who has the authority to decide such important issues as medical treatment, mental incapacity and even long term care in later life.

There's also a new process for creating a Lasting Power of Attorney. This is more complex with longer forms, a new role and duties for a Certificate provider and the requirement for immediate registration of the power, to ensure your interests are more fully safeguarded.

The most significant change is the scope for you to decide who should be informed of the registration and whether you wish to impose restrictions and conditions on your attorney, and whether or not to set out personal guidance on any particular issues. In this way, and with proper specialist advice, you can ensure your authority best fits your particular circumstances - family, medical or financial.

So don't be put off by Lasting Powers, and don't delay. At Bennett Griffin we'll ensure that, combined with your Will, your legal affairs are in the best possible order. And Lasting Powers of Attorney are still a whole lot cheaper than someone you have not chosen volunteering to act as your Deputy.

If you'd like more information on Enduring Powers of Attorney, call Bennett Griffin on 01903 229999 and ask for the Private Client Team.

Article courtesy of Essentially Worthing Magazine.