In the recent heatwave, soaring temperatures prompted several hot weather warnings advising us to stay indoors and out of the sun. The elderly are at particular risk and statistics sadly show that death rates increase substantially in hot periods, not just cold winter periods.
If you look after an elderly relative you will know that while you can carry out most daily tasks on their behalf, financial transactions can be challenging. Banks and Building Societies will quite rightly not allow you to manage your relative’s financial affairs, meaning that they will have to attend in person. If they have difficulty coping with the heat, have mobility issues or simply would rather not make a journey to the bank, how can you help?
A Straightforward Solution – the Lasting Power of Attorney
When you think of a Lasting Power of Attorney (or “LPA” for short) you probably think of something that’s only needed when someone loses the mental capacity to make their own decisions. In fact, anyone can make an LPA and it can be invoked at any point in their life.
There are two types of LPA:
The LPA for Financial Decisions
This allows the appointed Attorney(s) to carry out financial transactions such as paying bills, managing bank accounts/investments and claiming pensions and benefits.
The LPA for Health and Care Decisions
This covers medical issues and decisions on short and long term care.
So the simple answer to our dilemma above is to arrange an LPA for Financial Decisions for your elderly relative. This will allow you to assist with their finances when they find things difficult, but doesn’t take away any of their ability to manage their own affairs if they want to.
Making the Lasting Power of Attorney
The process of making the LPA is quite straightforward. Your relative visits a solicitor for an appointment usually lasting less than an hour to draw up the paperwork. They will need to nominate their Attorneys (and backups) and the solicitor will confirm that they have the proper mental capacity to understand what they are doing. Once the LPA is prepared and signed it is then registered with the Office of the Public Guardian and from this point can be invoked at any time.
Contact Backhouse Solicitors for Help
If an LPA sounds like the perfect solution to your caring dilemma then our team at Backhouse Solicitors are here to help. Our expert Private Client solicitors have many years’ experience helping families with LPAs, Wills and Inheritance planning. To book a free initial consultation or simply to ask any questions you might have about LPAs then contact us today to speak to one of our expert solicitors.
The Backhouse Solicitors Team
Tel: 01245 893400