Personal Affairs
As we grow older we often worry about what will happen to our personal and financial affairs and who will manage them if we become ill or have to go into hospital or a nursing home. There are various ways in which relatives and friends can be appointed to manage the personal and financial affairs of those who are incapable of looking after their own affairs.
Lasting Powers of Attorney
There are two types of Lasting Power of Attorney, one which deals with your property and financial affairs and one which enables you to make decisions about your health and welfare. It may be hard to imagine a time in the future when you may be unable to make clear decisions about your finances or healthcare however Lasting Power of Attorneys can prove invaluable should this happen and can give peace of mind now with one less future worry. Coles Miller can guide you through the process of setting up one or both of these documents in which you will specify an attorney to act on your wishes and requests.
If you have already set up an Enduring Power of Attorney then, if in the future, you lose your ability to manage your own financial affairs, you can rest assured that the person you have nominated will deal with your affairs with your best interests at heart.
However although existing EPAs are still valid, since October 2007, it is only possible to set up a Lasting Power of Attorney (LPA).
Court of Protection
If an individual becomes mentally incapable of managing their own affairs, and they have not previously chosen someone to manage them on their behalf via a Power of Attorney, an application will have to be made to the Court of Protection to appoint such a representative. In these circumstances we can assist with your application and help ensure it is promptly processed to enable you to take over the management of the individual's affairs with the minimum of delay.
Living Wills
A Living Will, also known as an "advance directive", is a written document setting out the circumstances under which you would not want to receive life-prolonging medical treatment if you became seriously ill in the future and were incapable of making your own health care decisions. The formal document is prepared and signed by you before a witness and placed with your existing Will with copies being provided for you to retain and pass to your doctor. Forward planning like this can be comforting to relatives and also greatly informative to medical staff. A Living Will can help to ensure that, should you become seriously ill in the future then, your wishes with regard to medical therapy will already be apparent to those administering treatment and also serves to save your relatives from making any difficult decisions.
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