During these uncertain times amid the continuing effects of COVID-19, no one knows what will happen from one day to the next. As much as possible though, it is important to have a plan in place so that you are fully prepared for anything that lies ahead.
At the forefront of many people’s minds right now are arrangements to help their loved ones manage their financial affairs and medical wishes should anything happen. Setting up a Lasting Powers of Attorney (LPA) allows you to appoint one or more people (known as attorneys) to help you make decisions or make them for you on your behalf should you be unable to do so. This will provide many with peace of mind.
There are two types of LPA; one that deals with Property and Financial Affairs and the other that deals with Health and Welfare. With everything going on at the moment, this may be an appropriate time for these LPA’s to be actioned.
Many think of Lasting Powers of Attorneys as being solely for the elderly, or for those who have lost mental capacity. However, they can be helpful in a wide range of circumstances, not only if one has lost mental capacity, but in your Property and Financial Affairs too.
A Property and Financial Affairs LPA can be used whilst you still have mental capacity and can be particularly helpful during this time for those who are physically unable to go out and who might be self-isolating.
It will allow your attorney to deal with any financial affairs such as day-to-day banking or buying food and other necessities for you, giving you peace of mind that things are being dealt with as you wish.
Attorneys can only be used once they have been registered with the Office of the Public Guardian (OPG). Please note during this time, there may be delays in the registration process.
A Health and Welfare LPA enables loved ones to make decisions about your healthcare in the future if you are unable to do so. It’s something everyone should consider.
Unlike with Property and Financial Affairs, actioning a Health and Welfare Attorney will mean you do not have the mental capacity to make decisions yourself.
It is also possible to put in place an Advance Decision (sometimes called a Living Will). This allows your wishes to be carried out around the care and types of medical treatment you would or wouldn’t want in certain circumstances.
This gives carers and healthcare professionals a clearer idea of your priorities and preferences, taking away some of the more difficult decisions they might face, such as DNR (Do Not Resuscitate).
It is possible to put in place both an Advanced Decision and a Health and Welfare LPA. However, if this is to be the case, it is, of course, important that they do not contradict each other.
Having these important documents in place will provide peace of mind that your financial affairs and health and welfare decisions are in your best interests, and will be actioned should you lose capacity.
Here at Fodens, we are taking certain measures in order to allow these documents to still be created. We are communicating via video meetings, telephone calls and emails and have put systems in place for signing these documents.
With a team of personal service experts to hand, we are here to help you and your family prepare for anything that lies around the corner.
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