A Power of Attorney or Lasting Power of Attorney as they are known, is incredibly important and can only be entered into whilst you still have the metal capacity to do so.
Should you lose your capacity through illness or an accident, it will be too late and your family/friends will need to approach the COP for a Deputyship order, which can be a very costly and protracted experience.
There are two types of Lasting Powers of Attorney, the first type covers your property and financial affairs with the second type dealing with your health and welfare. Both types are important and provide you with the opportunity to expressly set out who your attorneys are and the remit of their powers over your affairs.
Email Head of Private Client, Partner Giles Scott on giles.scott@mfgsolicitors.com
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