In Nigel’s words…
If you believe that there’s an issue with potential dementia or diminished ability to make decisions, set up a Lasting Power of Attorney as quickly as possible. There are two parts of Lasting Power of Attorney, the first one is financial and the second one is for medical reasons. At the very least get the financial one sorted out because if it gets to the stage where you’re no longer able to look after your own affairs, then someone else can come in as your attorney and look after that for you.
Because Mum wouldn’t have been able to deal with her finances, Dad set up a Lasting Power of Attorney three years ago. It’s prompted my wife and me to get one set up.
Because Mum wouldn’t have been able to deal with all of this herself, Dad had set it up two or three years ago and, in fact, it’s prompted my wife and me to get one set up. We haven’t had it registered yet, but it’s there ready to go should something happen to one of us, because you can never tell. It’s something that you should just have prepared, in the same way that you have a will prepared.”
What is a Power of Attorney and why should you set one up? We also explain about Lasting Power of Attorney.
Here we look at the different types of Power of Attorney in Scotland and explain how to set them up and how they work.
We explain the different types of Power of Attorney for Northern Ireland, how to set them up and how they work.