Did you know that September is World Alzheimer’s Month?
Alzheimer’s disease is the most common type of dementia. Dementia has symptoms such as memory loss and difficulties with thinking, problem solving or language. These symptoms often lead to individuals no longer being able to make decisions for themselves and therefore having to rely on the help of others.
It is a common misconception that if you lose the mental capacity to make decisions for yourself, a family member can just step up and act on your behalf but unfortunately this is not the case. It is therefore advisable to prepare for if the time should come that you no longer have the mental capacity to make decision and this can be done by preparing a Lasting Power of Attorney.
There are two types of Lasting Power or Attorney, one that deals with property and financial affairs and one that deals with health decisions.
The Financial Decisions Lasting Power of Attorney enables your attorney(s) to amongst other things, pay bills, collect benefits and sell your home and assets. This type of Lasting Power of Attorney can be used as soon as it is registered, with your permission.
The Health and Care Lasting Power of Attorney enables your attorney(s) to amongst other things, make decisions about your daily routine (e.g. what you eat and what you wear), medical care, moving into a care home and life-sustaining treatment. This type of Lasting Power of Attorney can only be used when you are unable to make your own decisions.
Our fees for the preparation of a single Lasting Power of Attorney start at £350 plus VAT. There is also a fee payable to the Office of Public Guardian of £82 for each Lasting Power of Attorney but depending on your circumstances you may be eligible for a reduction in this registration fee.
If you would like to discuss Lasting Powers of Attorney further please contact our Private Client department on 01736 362362.