Here’s what you need to know before setting up a power of attorney

power of attorney

A power of attorney is a legal document, through which you can assign a person to act or make decisions on your behalf during times when you are unable to do so.

This could be due to a temporary situation, such as when you’re hospitalized, or for the long-term, such as due to a dementia diagnosis, which could make you mentally incapable to take decisions in the future.

In case, you’ve been diagnosed with a degenerative cognitive disorder, you should set up a lasting power of attorney as soon as possible, since you won’t be allowed to do so once you are deemed not to have the mental capacity, says an expert at SCL Wills and Probate, a law firm reputed for its will and probate solicitors in London.

Two Types of Power of Attorney

There are 2 types of power of attorney and you can set up both or any one of them.

Ordinary Power of Attorney

This includes decisions concerning a person’s financial affairs and it is valid while they are mentally capable. It is set up for covering a holiday or hospital stay, or if you find it difficult to get out of the house.

Lasting Power of Attorney

A Lasting Power of Attorney or LPA covers decisions regarding financial affairs and healthcare. It is set up if a person loses their mental capacity or if they no longer wish to make decisions for themselves.

How to Set Up a Power of Attorney?

Ordinary Power of Attorney

To set up an ordinary power of attorney, a standard form of wording needs to be used. You can contact the local Citizen’s Advice or hire a will and probate solicitor in Potters Barfor this.

Lasting Power of Attorney

An LPA can be set up by following some simple steps:

  • Get the relevant forms from the Office of the Public Guardian. You’ll also get an information pack with that.
  • To fill out these forms, you can take the help of a local advice agency or a solicitor. It is best to seek professional advice for this step ,if you are unsure about the process or in case your affairs are quite complex.
  • Next, you’ll need to get the signature of a certificate provider on your LPA. Before signing your LPA, this individual will ensure that you understand everything and confirm that you aren’t applying for the LPA under duress. This individual must be a close acquaintance or a professional, such as a social worker, doctor or solicitor.
  • The last step before you can use the LPA is getting it registered. You’ll need to pay a fee of £82 to the Office of the Public Guardian to do so. However, people with low income may qualify for a discount of 50%. The registration process will take around 9 weeks, during which you cannot use the LPA.

Applying for a lasting power of attorney in Potters Bar can be simplified by hiring the services of experienced will and probate solicitors.

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