Don’t overlook powers of attorney, warns expert
02/02/2010
A LANCASHIRE legal expert is warning anyone planning for the future not to rely solely on a Will – and look at preparing a Power of Attorney.
Kathryn Harwood, partner and head of the Wills & Estate Planning team at Napthens, warns that too many people are overlooking a power of attorney when they come to prepare a Will. A Lasting Power of Attorney (LPA) allows for control of finances, for instance, if someone becomes mentally incapacitated.
Figures show that in England and Wales, two million people lack the capacity to make decisions for themselves. Without an LPA, the Court of Protection decides who will look after someone’s affairs if incapacitated.
Kathryn said: “Having your solicitor help you prepare an LPA is a good way to avoid the Court of Protection, which may not always make the decision you would have wanted. The court has been criticised heavily in recent months and a review of its activities is currently planned.
“A Lasting Power of Attorney, alongside a regularly updated Will, is the best way to prepare for the worst, and make sure your affairs are looked after in the way you would have wanted."
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