Examples of how useful Lasting Powers of Attorney can be

Client 1

Dorothy (84) – Widow. Had an existing Will. Dorothy had no children and lived in a council flat. She had significant savings and lived a very comfortable life. However, having previously been very sprightly, she was becoming increasingly unable to get out and about as easily as she had been and, as a result, was becoming increasingly reliant on a good friend who lived locally. I advised Dorothy that now was the time to put Lasting Powers of Attorney (LPAs) in place before her health declined any further. My advice was accepted and Casey & Associates did the rest. Dorothy appointed her friend, Margaret, as her attorney and, on my recommendation, appointed her niece as well. Although Dorothy’s niece lived quite a distance away, Margaret was not much younger than Dorothy and I felt a “backup” was needed should anything happen to Margaret.

Nine months after Dorothy’s LPAs were created Margaret unfortunately slipped on an icy pavement and broke her hip. Since then, she has been housebound with no sign of her situation changing any time soon. Dorothy has not suffered as a result of Margaret’s accident, however, as her niece has been able to continue to look after her aunt’s affairs.

An appointment was made for Margaret to be seen by a Casey & Associates consultant as she recognised that her change in circumstances would be best addressed by having LPAs herself. Margaret’s three children were all appointed as attorneys and they have been able to look after all aspects of their mother’s affairs while she continues to convalesce.

Client 2

Harry (69) & Wendy (62) – Married couple and existing Casey & Associates Clients, underwent a three-yearly review of their circumstances. Previously supplied with Life Interest In Property Trust (LIPT) Wills. Since the Clients were last seen, Harry had been diagnosed with early onset dementia and I advised the couple to create full LPAs whilst Harry had the mental capacity to do so. My advice was accepted and Casey & Associates facilitated the creation of full LPAs for both Clients; with Wendy and both of the Client’s children appointed as attorneys for Harry and the children only as attorneys for Wendy.

Since the LPAs were implemented, as Harry’s mental condition has declined, the LPAs become more and more useful; Wendy has benefitted from unrestricted access to bank accounts jointly held with her husband as well as the solely held account that his pension is paid in to. Furthermore, as a family, Wendy and her children have been able to make decisions about Harry’s increasing care needs. Without having the LPAs in place the situation would have been very different; Wendy would not have been able to continue to access even jointly held back accounts or make decisions about Harry’s care.

If you would like to meet with one of our Consultants to discuss any of the issues raised in this article or any other Estate Planning topic please telephone 01732 868190 or click here.

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