What you need to know about Power of Attorney.

As we are becoming an aging population we need, unfortunately, to think about what we are going to do in our later years. It isn’t something that anyone wants to really consider but the time may come when you are not able to make decisions for yourself if you become too ill or incapacitated. It is very important for you have something in place and at least when you have it done you don’t have to worry about it again. This is meant as a brief explanation as to what is involved but if you want a good Cheltenham Power of Attorney  then a visit to https://beesandco.com/our-services/power-of-attorney-cheltenham/  is a very good place to start as they will help you through this difficult choice.

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First off all you need to know that Power of Attorney basically gives someone else the right to make important decisions for you and on their behalf.  This gives over control of your money, your care and other health matters if a situation arises when you cannot do it yourself. They will effectively control “your affairs”. It’s very important to note that this decision to name someone can only be made when you are of sound mind and mental capacity. Therefore it’s a very good idea to make sure you know who you are going to name and discussed it with them in good time.

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The main type of Power of Attorney is the Lasting type. None as an LPA (Lasting Power of Attorney) this has no “end date” so the named person can make decisions for you on an on-going basis. The registering of the document is effective straight away so the named person can take control then or if you should become incapable.

There are two types of lasting power of Attorney. You do not have to set up both at the same time, or you can only have one but it is generally accepted that you should have both done to cover all issues that may arise. The first is the Property and Financial Affairs. This allows your named person to control you financial accounts and pay bills for you. They can also get any benefits or pension. The Health and Welfare LPA about your care such as finding you a home and medical treatment. No of this takes effect until you are unable to make these decisions.

It’s not a pleasant subject but it is something that we should all look at considering. Don’t forget that it will help you loved ones care for you and protect you should the worst happen.