Whilst much of financial planning is just as exciting and ‘rock and roll’ as you’d expect, there are some very important areas which are perhaps less immediately enthralling. Planning for what happens when you cannot manage your own affairs is one such area. Almost no-one believes they will live for ever, and many of us have a will setting out our wishes for what happens after we’ve gone. This is important planning as the laws of intestacy do not always take into account the complexity of modern families.
However there is another area which in some respects is even more important; most of us will spend some time no longer competent to manage our own affairs, either through illness, accident, or simply age and deterioration of our faculties. This isn’t fun stuff to talk about, but it’s even less fun to experience and knowing that someone has the legal right to speak on your behalf and to enforce your wishes at that difficult time is critical if you want a say in how you are looked after.
This is what a Lasting Power of Attorney does; it gives someone the right to speak for you if you are unable to speak for youself. Whether it’s paying your bills, checking your taxes, or enforcing your wishes regarding acceptable medical treatments; if you want to be heard when you’re not able (or legally competent) to speak for yourself you need an Attorney to speak for you.
Read or download our guide to Lasting Powers of Attorney now.