Mental and physical incapacity can happen at any time. You might have thought that a spouse or family member would instantly gain control of your finances and wellbeing, but this isn’t the case…
Whether we are young or old, we can find ourselves in this situation owing to illness or injury and it can be invaluable having a reliable person who is able to manage your personal affairs and remove the anxiety of having unpaid bills, at a time when you most need peace of mind.
Unless you have signed a power of attorney, your family will have no authority to access your money or deal with your welfare. In this case, the Court of Protection will look to appoint a Deputy for you. This means that the only way your finances or wellbeing can be managed is through an application which can take anywhere in between 12 weeks and 10 months. The judge has the power to decide who to appoint, and this could be someone you wouldn’t have trusted or wanted to manage your affairs.
This is why it’s vital to have a Power of Attorney in place. Doing so means you can appoint the right person to make decisions about your welfare, money, or property on your behalf at the right time.
For more information on Power of Attorneys and how we can ensure your wishes are carried out, send me a message, or contact us on:
01189776064
info@afps.co.uk
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Gill Werrett is a Legal and Financial expert with many years` experience at both the corporate and private individual customer level. Having previous connections to The British Film Industry through…
