People are living longer but unfortunately are not always retaining their mental or physical capacity. Nobody knows what's around the corner but with the help of Tayntons LLP, you can take control of your future care by giving someone else the power to act on your behalf should you become mentally or physically incapable. This is giving them Powers of Attorney.
It’s a common misconception that once you set up any sort of Power of Attorney you are unable to deal with matters yourself. In reality, a power of attorney simply extends the power you already have, enabling someone else to deal with your matters should you become unable to do so. Age shouldn’t always be a deciding factor, as you could find yourself dealing with the results of an accident or illness, whether your own or someone close to you. A Power of Attorney gives you complete control over the levels of authority you’d like to grant to your trusted representative.
At Tayntons we can offer practical and sensitive advice to help you plan your future living, healthcare and welfare arrangements. We’re also highly experienced in helping those with relatives who have already lost their mental capacity, where Deputy Appointments will allow for their finances and welfare to be taken care of.
If you’d like to know more, take advantage of our free initial consultation and call the team now.
There are typically three types of Power of Attorney:
Ordinary Powers of Attorney (OPA)
Ordinary Powers of Attorney can be created for a defined period of time in addition to being left more open ended. They are often used in matters such as conveyancing transactions, where the donor cannot themselves be present or is incapable of signing paperwork. In these situations, they will need to appoint another person to make decisions and to sign contracts on their behalf.
Enduring Powers of Attorney (EPA)
Due to legislative changes made in 2007, it is no longer possible to make an Enduring Power of Attorney although those completed beforehand are still valid. An EPA is similar to an Ordinary Power of Attorney in that appointed individuals are able to act on your behalf in relation to your property and affairs, subject to any restrictions specified by you within the document.
Lasting Powers of Attorney (LPA)
Lasting Powers of Attorney (LPA) have now replaced Enduring Powers of Attorney (EPA). They are generally a lot more detailed and are divided into either a Property and Financial Affairs LPA or a Personal Welfare LPA. If you have an Enduring Power of Attorney, you might want to consider a separate LPA to cover your personal welfare.
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