There was time when making Wills and especially granting “Lasting Power of Attorney” to family members was taboo subject. But we are now becoming more knowledgeable, socially, financially aware of our duties and obligations to family members.
There are two types of LPOA, one dealing with financial matters (FM) and other for social and medical care. Most consider FM more important, so I will deal with it in this short letter, as we have just registered ours.
Person granting LPOA is known as “Donor” and person or persons who you nominate to look after your FM as “Attorney”. We have to fill-in two types of documents, LPOA and “Notice of intention to apply for registration of LPOA.
These are complicated documents of some 25 pages and requires fee of £130 to register with “Office of Public Guardian” which is compulsory to make it legal. However people on low income can pay less or are completely exempted, depending on circumstances.
Normally husband appoints wife as “Attorney” and vice-versa. Many add their children as additional or Replacement Attorneys who can take over if the original Attorney dies or become mentally incapable. It is important to understand legal jargons, read notes carefully or employ solicitor. But on most part children who are IT wizards could fill in on line.
It will make lives of your family members easier if you register LPOA while mentally capable to make decisions to avoid lengthy, costly court process to obtain same rights.
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