Power of Attorney
With 1 in 14* people over 65 now suffering from dementia, it’s good to have a plan. Power of Attorney helps you decide who handles your affairs and makes the big decisions just in case you can’t. As market leaders in later life planning including funeral plans and legal services, Golden Charter are the perfect people to talk to. Even better, our costs are fixed – unlike a solicitor who could charge by the hour (*source: alzheimers.org.uk, 2014.)
What is Power of Attorney?
Power of Attorney is a legal tool that allows you to appoint someone to make certain decisions on your behalf.
It gives them the authority to make the big decisions if you lack mental capacity at some point in the future. Or, if you no longer wish to make those decisions for yourself.
In a Power of Attorney, you’re known as the ‘donor’. The trusted people you choose to make the decisions are called ‘attorneys’.
There are two types of Power of Attorney:
- Those for financial decisions
- Those for health and care decisions
Why is Power of Attorney so important?
Currently there are 850,000 people in the UK living with dementia. It’s estimated that by 2025, this will exceed over a million (source: Alzheimer’s Research UK,2015).
If in the future, you or your parents are no longer able or willing to make your own decisions, Golden Charter can help.
A Power of Attorney lets families stay in control of their affairs now while making things easier in the future.
By nominating someone to make decisions on your welfare and finance you’re ensuring that there’s no uncertainty or hassle for your loved ones should it ever be needed.
Without a Power of Attorney, your loved ones may have to go to court to get the authority to act on your behalf.
This can be time-consuming and costly. By setting up a Power of Attorney now, you’re making things simpler for the future.
Who decides if a person is incapable?
Only a registered medical doctor can decide if you’re incapable. However, you don’t have to be incapable for the Power of Attorney to be used. If you decide you no longer want to make any of these decisions, you can choose to have your Power of Attorney in place now.
How does Power of Attorney work?
- Arrange the Power of Attorney to be set up while you still have capacity
- Choose the person you’d like to be your attorney
- Decide when you’d like the attorney to act – right away or only if you lose capacity
- Register the Power of Attorney with the Office of the Public Guardian – Golden Charter can do this for you so there’s nothing further for you to do
- Please note, if you’re self-registering it will be your responsibility to return the appropriate documents to the Office of the Public Guardian. Our legal consultant will advise you which forms should be sent. We recommend you do this as soon as possible after signing your documents. Forms can’t be registered once the person has lost mental capacity.
What does Power of Attorney cover?
Your attorney’s powers
Health and Welfare
- Daily routine
- Medical consent
- Long-term care
- Social services
Property and Finance
- Paying Bills
- Bank Accounts
- Credit cards
- Collection benefits
- Selling your home
What happens if there is no power of attorney?
- The courts may appoint someone to manage your financial affairs
- Your friends or family may need to go to court to get authority to act on your behalf – this can be a lengthy, costly and upsetting experience
- Doctors could over-rule loved ones on decisions you have already made regarding health matters
- By setting up a Power of Attorney now, you make things easier in the future whilst keeping control of your affairs now
How much does it cost?
Per individual £695
Per couple £995
This includes all fees associated with Power of Attorney, including registration costs
Ways To Pay
Pay by debit card, credit card or cheque
If you cancel within 14 days we’ll refund you the payment you’ve made (the full fee applies to cancellations made after 14 days)
Registration and The Office of the Public Guardian
Your Power of Attorney must be registered with the Office of the Public Guardian before it can be used. We can take care of this for you.
We’re here to help
It might seem as though there are lots of decisions to make when you’re planning for the future. But we’re here to help. We offer a FREE, no-obligation home visit from one of our expert consultants, local to you. As all of our legal services products are tailored to your needs, we only sell them face-to-face, making a home visit all the more important.
Plan now and save.
Call us on 020 7352 0008