Posted on Wed 22nd July 2015 2.54PM General law
As we live longer the chances of us suffering some form of debilitating mental or physical illness increase. Common now are cases of dementia. To enable people to safeguard themselves and their affairs they can sign a Lasting Power of Attorney. This document enables their nominated attorneys, often relatives, to manage their affairs if the worst happens. Though there is a cost involved the alternative is far worse: a costly application to the Court of Protection (part of the High Court) to appoint a Deputy. Not only is this an expensive process but so too is the on-going cost of administering a person's estate.
Those who have property abroad should take separate advice about what to do there, as an English Lasting Power of Attorney may not be valid for use abroad.