We regularly report on the importance of appointing an attorney to deal with your affairs. This is a person who is able to step into a person's shoes from a legal point of view and manage their affairs. The person who makes the appointment is called the 'donor' and the person managing the affairs is the 'attorney'. This is especially important when someone loses mental capacity. The most commonly used document to appoint an attorney is a 'Lasting Power of Attorney'.
Solicitors for the Elderly (SFE) is an independent national organisation of lawyers, such as solicitors, barristers, and chartered legal executives who provide specialist legal advice for older and vulnerable people, their families and carers.
SFE recently commissioned YouGov to carry out a survey which revealed that less than 10% of the British public have created a Lasting Power of Attorney. 84% of the people taking the survey wanted someone close to them to make decisions on their behalf but just 7% of those taking the survey had made a Lasting Power of Attorney.
Of those who had made a Lasting Power of Attorney, less than half had used a solicitor to do so.
There are important considerations to take into account when making a Lasting Power of Attorney and proper legal advice to create this document could save your loved ones a lot of difficulty. A common pitfall is for a married couple to appoint each other to be their attorney. This can lead to considerable problems if, for some reason, both parties lose capacity.
If you would like to discuss making a Lasting Power of Attorney, contact us.