Wills, Power of Attorney and Court of Protection
Barker Son & Isherwood - Andover, Hampshire
Planning for the future is very important. Making a Will is one of the things that should be on your ‘To Do’ list if you haven’t done so already. There are many reasons to get a Will in place as soon as possible.
In addition, if you are getting older and feeling the strain from managing your financial responsibilities, now may be the time to consider a Lasting Power of Attorney and the benefits this can bring you.
Please do get in touch if you would like to discuss making a Will. If you or someone in your family wants to make a Lasting Power of Attorney, we can also help.
Call us on 01264 325831 today.
Why Should I Make A Will?
Making a Will is not just about leaving money or belongings to members of your family. It is also hugely significant if you have children or if you are cohabiting with someone rather than getting married. If you die without a Will (known as intestate) and you are not married to your partner, they will inherit nothing from you and your estate will go to your next blood relative. This can have huge financial implications for your partner, and you can completely avoid this by just by making a Will.
In addition, your Will can identify who you want to act as Legal Guardian to your children in the event both you and your spouse die. This means that your children can avoid the possibility of being placed in care whilst they wait for a judge to decide who they will live with.
Putting all of these things aside, your Will helps you to have a say in who inherits from your Will and who will deal with your estate.
What Is Lasting Power of Attorney?
As you or someone in your family gets older, you may need some extra help with managing your finances. A Lasting Power of Attorney, also known as an LPA can help to put in place some legal responsibility and make the situation official.
There are two types of LPA-s – the first one is 'property and financial affairs' and the second is 'health and welfare'. You can choose to put one or both in place and they apply at different points.
We can talk to you in detail about your requirements and what you need to decide in order to get an LPA in place.
What is the Court of Protection?
The Court of Protection is there to make decisions on behalf of people who lack the capacity to do so themselves and where there is no LPA in place. The Court of Protection has the power to appoint a ‘Deputy’ who will make decisions on behalf of the person who lacks capacity, known in the Court of Protection as the ‘patient’. This is often more expensive and stressful and, therefore, it is important to consider making an LPA before it is too late.
If you need help and assistance with any aspects of Wills, Lasting Power of Attorney or the Court of Protection, contact us now because we can help.