If you cannot sign your name
- If you cannot sign your name because you are physically or mentally incapacitated, gaining access to your finances is a long and costly court process. It can make things very difficult for a spouse, partner or your children. Bills could go unpaid, benefits uncollected and cash impossible to access.
- Setting up a lasting power of attorney (LPA) while you are fit and healthy allows you to hand control over to someone that you trust should the need arise. They can then manage your affairs in your best interests until such time as you are able to take up the reins again yourself. Setting up the LPA does not restrict your right to go on looking after your own affairs for as long as you feel capable. It simply means there is someone to take over if, and when, you cannot cope.
- Your attorney(s) cannot act on your behalf until the document has been registered. During that process, the court will contact certain people that you named when you originally drafted the LPA. Anybody, including you, can object if they are not happy with the reasons why the document is being registered.