At Andrew & Andrew Solicitors, your solicitors in Portsmouth, we know how distressing it can be for people when they realise that their loved ones are having trouble making sound decisions around self-care, especially when it comes to their finances. When people get old, they may start to forget things and can be much more easily influenced by unscrupulous others, especially in the constant changes taking place in today’s digital world. Sometimes, when people get sick, they also need to relieved of the burden of administrative chores for a while. For both of these, it is possible to obtain a power of attorney, which allows you to act on behalf of your loved one. Andrew & Andrew, your solicitors in Portsmouth can help make this process as painless as possible.
There are two types of power of attorney now available to use in the UK, which we look at below:
Ordinary power of attorney
This gives someone the right to decisions about your financial affairs (such as paying your bills), and is used for temporary situations, such as when someone is hospital and on holiday, or can’t get out and about so easily. Ordinary power of attorney can be limited, for example to just the bank account for paying bills for you, but not giving them any rights to decide what to do with your home. This is only valid while you can make your own decisions. If you lose that capacity, it stops being valid.
Lasting power of attorney
This gives someone the right to make decisions regarding your finances and/or your property. It is used if someone no longer has the mental capacity to make such decisions, or no longer wants to. It can be set up to come into force later on, when you decide the time is right to allow someone else to handle your affairs. Lasting power of attorneys, either for finances and property or for health care, cannot be used until they have been registered with Office of the Public Guardian.
Using Andrew & Andrew as your solicitors in Portsmouth will ensure your rights and wishes are respected and everything is done legally and you know exactly what is going on.