Over the past 12 months we have seen a huge increase in the number of clients looking to get their affairs in order and put a Will together. Having a Will is important as it allows you to decide what happens to your property, possessions and any children you may have, in the event of your death. If you die and do not have a Will, the Courts will follow a set of legal rules to decide what happens and this may not be what you want to happen.
Whilst having a Will is good preparation for after you die, it is also important to think about situations in your life where you may not be able to make decisions. This is where a Lasting Power of Attorney (LPA) comes in.
Kate Garraway and Derek Draper
The importance of having a LPA in place before it is needed has been highlighted by the heart breaking story of Kate Garraway and her husband Derek Draper. Derek was struck down by an extremely severe case of COVID-19 and hospitalised in March 2020. He was admitted to intensive care and put into an induced coma. Thankfully, his condition improved but he spent an entire year in hospital before being allowed home in April 2021. To allow Derek home, extensive works were done to the family home and he still requires round-the-clock care.
As devastating as Kate and Derek’s situation is, it was complicated further as they did not have any legal plans in place for such a situation. Due to data protection, Kate had no legal right to see Derek’s medical records and she was also unable to access funds to manage Derek’s care or refinance her mortgage, something that for many would prevent any adaptation works from being done.
Next-of-kin may not be able to make decisions
Solicitors for the Elderly (SFE) have conducted research and found that 65% of people believe their next-of-kin will be able to make medical and care decisions for them, if they are unable to. However, without a Health & Welfare LPA in place, this is not the case and only 22% of people have an LPA in place.
There are two types of LPA and you can choose to have one or both put in place. It is recommended that you put both in place to ensure all of your decisions are protected.
LPA for Property & Financial Affairs
This LPA allows your attorneys to make decisions about the management of your money and assets. This could be things such as paying your bills, managing your bank accounts or collecting your benefits or pensions. With this type of LPA, you can choose when it comes into effect, you do not have to have lost your mental capacity to give your attorneys authority over your finances.
LPA for Health & Welfare
This LPA allows your attorneys to make decisions about your medical and personal welfare. This could be things such as where you live, your day to day care or specific medical treatments. Unlike the LPA for Property and Financial Affairs, this LPA only takes effect when you no longer have mental capacity to make decisions for yourself.
When an LPA is not in place
If an LPA is not in place and someone loses mental capacity, the procedure for their loved ones can be lengthy and expensive. They would have to apply to the Court of Protection to be appointed as a deputy. This application generally takes around six months and as anyone can apply to be a deputy, it may not be the person you would have chosen to make your decisions.
How to put an LPA in place
Our specialist Wills and Probate solicitors can guide you through every step of the process, contact us today on 01244 312306 and we will answer any questions you have.
