Saddleworth COVERS INDEISGN.indd - page 53

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Advertising feature
A focus on
Lasting Powers of Attorney
The
Straight-Talking
Law Firm
Although most people are familiar with the
concept of what a Lasting Power of
Attorney (LPA) is, many are not clear on the
finer details of what an Attorney is actually
able to do and in what circumstances.
Drafting a LPA is a prudent step to
undertake to ensure that someone is able to
deal with your affairs on your behalf should
you ever need assistance.
Attorneys appointed to deal with Property
and Finance have the ability to:
Buy or sell property
Open, close or operate any bank,
building society or other account
Give access to financial information
Claim, receive and use (on your
behalf) all benefits, pensions,
allowances and rebates
Receive any income, inheritance or
other entitlement
Deal with tax affairs
Pay mortgage, rent and household
expenses
Insure, maintain and repair property
Invest savings
Make limited gifts
Pay for private medical care and
residential care or nursing home fees
Apply for any entitlement to NHS
care, social care or adaptations
Buy a vehicle or any equipment or
other help needed
Repay on any loan
In a LPA you are asked to decide when you
wish your Attorney(s) to make decisions for
you. You can limit your Attorney(s) ability
to act either only in circumstances where
you do not have mental capacity, or
alternatively you can allow your Attorneys
to act for you once the LPA is registered but
only with your consent while still have
capacity.
The ability to allow your Attorney(s) to act
while you have capacity can be very helpful.
If you find it difficult to get about or talk on
the telephone, or if you were out of the
country: in these circumstances you may
want your Attorney to manage some or all of
your financial affairs while you still have
capacity.
Consideration should also be given as to
whether you wish to give your Attorneys
details of any preferences you may have or
binding instructions when they are
managing your affairs for you. For example;
you may wish to detail that your Attorney
should use a particular financial adviser, use
your annual ISA allowance or maintain a
certain investment portfolio for you.
Careful thought should be given to deciding
who to appoint as you Attorney. It is fairly
common to appoint more than one Attorney
and also appointing replacement(s) attorney
in case your Attorneys themselves ever
become unable to act for you.
Should you wish to take further advice or
indeed have a Lasting Power of Attorney
drawn please contact Rebecca O¶Donnell at
O¶Donnell Solicitors
Appleby¶s Business Centre,
3 Mossley Road, Grasscroft,
Saddleworth, OL4 4HH
Telephone: 01457 761320
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