Lasting/Enduring Power of Attorney
UK (except Scotland)
Partly, as a result of longer life expectancy, we all face the possibility that we may lose the mental capacity to manage our own affairs. The onset of illnesses such as Dementia or Alzheimers Disease, may impair our ability to cope with a variety of day to day matters. The inability to sign cheques, sell assets or withdraw money from the building society can create an extremely distressing and difficult situation for ourselves and our family.
If capacity is lost our affairs are taken over by the Court of Protection/Office of the Public Guardian, which can be an intrusive, lengthy and costly procedure. However, this situation can be avoided by the appointment of an Enduring/Lasting Power of Attorney; a document which legally authorises one or more people, we trust, to act on our behalf.
NOTE - It was only possible to set up Enduring Power of Attorneys until Septemer 2007 when the new system of Lasting Power of Attorney took over.
