These documents, which have replaced Enduring Powers of Attorney, enable you to choose an attorney(s) to act on your behalf in the event of mental incapacity – for example if you were to suffer an illness, stroke or Alzheimer’s, when it would be necessary for someone to look after your assets. Whether there is a little or a lot and indeed whether your circumstances are complex or straightforward.
It is the principle which is important – who would you trust?
It is something that could arise at any age. What if you suffered a serious accident?
In the absence of a Lasting Power of Attorney, it would be necessary to for someone who cares about you to apply to the Court of Protection, a specialist Court, for a Court Order (Deputyship) to manage your affairs.
You have great flexibility in whom you can appoint as attorney and can appoint replacement attorney(s) if the person you originally appoint is unable to act.
You can also make a separate, Lasting Power of attorney for your health and care decisions if you wish.