While some people are aware of Lasting Powers of Attorney and why they are needed, many still misunderstand their purpose and use. Rafael Donovan, one of Jackson Lees’ Wills experts, explores five common misconceptions people have about Lasting Powers of Attorney:

Wirral Globe: Rafael Donovan, one of Jackson Lees’ Wills expertsRafael Donovan, one of Jackson Lees’ Wills experts

“I will get one if something happens to me”

To make a Lasting Power of Attorney you need to have the capacity to do so, and have a witness present to sign the document confirming that they believe you are capable of making such a decision. If you have an accident or suffer from a condition that affects your ability to understand and/or communicate, you may no longer be able to make a Lasting Power of Attorney.

“They are only useful if you lose capacity”

While Lasting Powers of Attorney are certainly used so that someone is appointed to act on your behalf should you lose the mental capacity to manage your own affairs, they can also be used if you are physically unable and need assistance managing your affairs. For some, they may simply wish to appoint someone to manage their affairs for them if they are going abroad for a long time and won’t be able to manage their finances while they’re away.

“You only need to get one in later life”

Young people can be involved in accidents or suffer from conditions that may impact their ability to manage their own affairs. Unfortunately, we cannot predict the future, so we would recommend considering making Lasting Powers of Attorney regardless of your age, as they are not just for the elderly.

“I have a Will which deals with this”

Many people think that by having a Will they have already made arrangements should something happen to them. However, a Will only takes effect on your death, while Lasting Powers of Attorney are used to manage your affairs while you are still alive. While a lot of people appoint the same person to act in both documents, a Will does not appoint an Attorney on your behalf, nor does a Lasting Power of Attorney appoint an executor to deal with your estate when you pass away.

“It’s easy enough to sort out if something happens to me”

If you have bank accounts, investments or property in your name and are deemed to no longer have the capacity, usually the only way to access them while you’re alive would be for you or a loved one to apply for a court order with the Court of Protection. This is usually far more time consuming and costly than obtaining Lasting Powers of Attorney. You also get to choose who will manage your affairs, which would not always happen if it was taken to the courts.

Lasting Powers of Attorney are like an insurance policy - you hope that you'll never need to use them, but it is better to have them ready just in case.

If you would like to find out more about Lasting Powers of Attorney, our expert team are on hand to guide you through your options. We can take you through the whole process, from preparing the documents to arranging registration with the Office of the Public Guardian, meaning your documents would be ready to use if needed.

For a free consultation with one of our Wills experts, call us for free on 0808 302 3464 or email us at enquiry@jacksonlees.co.uk. You can also visit our website www.jacksonlees.co.uk.

A Flexible Service

At Jackson Lees, we understand that one of the most important things that we can do is plan our own futures to ensure that we protect the futures of those we love after we are gone. We will provide you with expert, professional and sensitive legal advice, helping you deal with a wide range of matters including; writing your Will, dealing with Probate, Inheritance Tax Planning, setting up Trusts and their administration, and making a Lasting Power of Attorney.

What Jackson Lees can do for you…

  • We offer free half-hour appointments for anyone who wishes to find out more about our services
  • Three local offices to choose from:
    • Hoylake 0151 909 3204,
    • Heswall 0151 909 3201,
    • Liverpool 0151 909 3147
  • We also offer assistance if you are in a dispute regarding inheritance
  • We offer free safe storage of any Will
  • We can register your Will on Certainty’s national Wills database

Let Jackson Lees make things a little easier for you and your family.  Contact our Wills, Trusts & Probate team to book an appointment or to chat through your requirements. Call us free from either a mobile or landline on 0808 302 3464.