Martin was a patient in the Northern General Hospital, having suffered a stroke. His wife, Jenny, called me to ask if I could prepare a lasting power of attorney for him. They were retired and Jenny had just realised that she was – legally – not allowed to sort out his finances. There was very little in their joint account or in Jenny’s name as the couple had an old fashioned relationship. Martin handled all the financial stuff and she did the housework. Jenny found that banks would not recognise her and she could not sign cheques to pay bills. Even though she and Martin owned their house jointly, Jenny feared she would not be able to sell the property and buy a bungalow because she was not allowed to sign paperwork.
Unfortunately Martin’s stroke was serious and even though I had no doubt he would have wished Jenny to look after his money it was not going to be possible for her to do this. In the absence of a Lasting Power of Attorney (LPA), we had to set about obtaining a deputyship order via the Court of Protection. It was over six months before this came through and only then could Jenny start dealing with important matters and sorting out the move to a bungalow.
The deputyship order was more expensive than any LPA would have been and the courts will supervise Martin’s financial affairs for the rest of his life. As a result Jenny immediately arranged her own LPA, giving her children authority to act on her behalf should that be necessary.
A lasting power of attorney (LPA) is a legal document appointing a person or persons of your choice to be your attorney. The Property and Financial Affairs LPA gives someone you trust the power to manage and make decisions about your finances should you be unable to do so. In order to arrange an LPA you must be mentally competent and able to give your consent. It may be too late after a road accident, serious stroke or if you are suffering from dementia. Sometimes – as with Martin – there may be very little warning before disaster strikes, so it is best to be prepared.
If you would like to discuss future planning in a free initial consultation contact Rosalind Watchorn Solicitors today to discuss your situation with a member of our specialist will-drafting and later-life planning team. Telephone 0114 229 0160 to arrange an appointment with one of our solicitors.
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