Many people think that if they have an accident or suffer an illness which impairs their ability to carry out everyday tasks, a family member can simply step in and deal with their affairs and make decisions on their behalf. However, unless you have power of attorney in place, they will not be able to access your bank and building society accounts, nor settle bills such as utilities or mortgages.
Court of Protection
In order to do so, they may have to approach the Court of Protection, which can be a costly and lengthy process. Furthermore, it may mean that the person you trust most to deal with your affairs is not the one making the application.
If you think you may like to enquire about a power of attorney Hertfordshire, search online for specialists such as https://beesandco.com/our-services/power-of-attorney/hertfordshire.
Lasting Powers of Attorney
There are two kinds of LPAs, one relates to financial and property affairs and the other to health care decisions. You must have mental capacity and be aged 18 or over to make a lasting power of attorney.
When choosing an attorney, you can select a family friend or a member of your own family whom you trust to deal with your finances, which could involve the sale of your home should that be necessary.
Remember, however, that making a power of attorney does not mean you are giving up control of your finances and care options immediately. Rather, it means you are future proofing in case anything happens to you.