Appointing a Power of Attorney
In the event of becoming incapacitated, even temporarily, through accident, illness or advancing years, it is vital that you appoint someone you trust to make important decisions for you. You need to appoint a Power of Attorney while you are in good health and still able to make decisions independently. Should the need arise, your Power of Attorney will act on your behalf in financial and legal matters such as banking and property, as well as in welfare matters including living accommodation and medical treatment.
What happens if you don’t appoint a Power of Attorney?
In the event that you are unable to handle your own affairs, a friend or family member would apply to the court for legal guardianship. This is often a lengthy and stressful process, which can last over a year and cost thousands of pounds. Even once legal guardianship has been granted, there are often additional annual costs for accounting, administration and insurance.
Is arranging Power of Attorney a complicated process?
At VMH we will talk you through the process of appointing a Power of Attorney, which is a relatively simple process, with professional guidance and advice. After we have discussed your personal wishes and circumstances, we prepare the relevant documentation and submit it to the Office of the Public Guardian (OPG) for registration. The documentation must also include a declaration confirming when the Power of Attorney will take effect.
How much does it cost?
Appointing an Attorney costs just a few hundred pounds in legal fees, plus the applicable registration fees, and doing it now could save you thousands in the future. At VMH we would be happy to arrange a free, no-obligation consultation and provide you with a detailed, written quote.
Can I appoint more than one Power of Attorney?
Yes, it is often advisable to appoint more than one Power of Attorney, who can act together or independently. A joint or substitute Power of Attorney should also be appointed in the event that your Power of Attorney is unable to act on your behalf. It makes sense to appoint someone younger than you but certainly someone you trust, such as your son or daughter. VHM can also act as a Power of Attorney at your request.