When might a Lasting Power of Attorney be useful?

1. Mrs Smith is in her early 70’s. Her daughter has been helping her with her finances for a couple of years now but is starting to be asked for some form of authority by banks and building societies.

A Lasting Power of Attorney will give her all the authority she needs.

2. Mr Jones has an Enduring Power of Attorney which he set up some time ago. It allows his 3 children to deal with his finances if he becomes mentally incapable of doing so himself. He is worried about his health now and who will be able to make health and care decisions for him if he gets to the stage where he can’t.

Enduring Powers of Attorney only cover financial affairs, not health and welfare decisions.

3. Mrs Johnson has built up a successful internet sales business. Although she has staff who work for her, she is still responsible for the major decisions. She has made a Will which deals with the passing on of her business after she dies. The person who knows most about her business is her accountant.

A Lasting Power of Attorney can be used to give her accountant the authority to keep making the decisions which will keep the business running and at the same time, give her husband the authority to deal with her personal affairs.

4. Mr Stevens has just gone into care. The care home are keen to get paid but Mr Stevens is not able to make all the arrangements.

A Lasting Power of Attorney can be used to give his family the ability to sort out his care fees, relieving him of the worry and keeping the care home happy.

5. Mr and Mrs Townsend spend 6 months of the year in this country and 6 months of the year in South Africa. While they are away, there are quite often documents to be signed, bills to be paid, financial arrangements to be made.

Lasting Powers of Attorney can be used to give certain powers to certain people and for specific time periods.