Posted in Private Wealth
At Pindoria Solicitors, we fully understand and appreciate that when it comes to dealing with personal finances as well as decisions affecting health and welfare, it is important to give the utmost consideration to the specific needs of each individual client.
With an appropriate Lasting Power of Attorney in place drafted on your terms and in accordance with your wishes, you can be assured that in the event that it becomes necessary*, your finance and health decisions, will be at the hands of your most trusted who will be in a position to deal with it in a personable way that they know you will appreciate, need and wish.
In the absence of a Lasting Power of Attorney, it may be that the Court of Protection will decide on how your finances and health should be dealt with, or which individual should be appointed as the person to deal with your affairs and make decisions on your behalf. Additionally, not only is this process a lot more time consuming (sometimes taking up to 8-10 months), but the costs of going to the Court of Protection are also greater. Of course, in a time sensitive situation where decisions made on your behalf become critical, your family members and/or friends could find themselves in a situation where they are unable to facilitate the simplest tasks on your behalf.
At Pindoria Solicitors, we often refer to Lasting Powers of Attorney as ‘money well wasted’ – whilst we hope that you will never need to utilise your Lasting Power of Attorney, in the unfortunate event that it is required, then you know you are in safe hands. Even though you can never predict, or fully plan for the future, we are able to work closely with individual clients to ensure that all appropriate steps are taken to protect your finances and welfare.
We stress the importance of obtaining legal advice prior to granting any Lasting Powers of Attorney.
*A Lasting Power of Attorney for Health can only be used from the time (and if) you lose capacity to make your own decisions. A Lasting Power of Attorney for Financial matters can be utilised from the point that it is granted; should you wish for it be utilised straight away then you will need to contact all appropriate institutions and let them have a copy of the Lasting Power of Attorney.
Credit: Vahideh Hojatoleslami