PROPERTY AND FINANCE LASTING POWER OF ATTORNEY

PROPERTY AND FINANCE LASTING POWER OF ATTORNEY
  • Allow loved ones to manage your affairs should you lose mental capacity.
  • Can be used before you lose mental capacity, perhaps if you are physically disabled.
  • The powers given to attorneys can be wide ranging or narrow.

 

The benefit of having a Property and Finance Lasting Power of Attorney in place is never truly appreciated until you need it.

The very thought of losing mental capacity is a terrifying prospect for any of us, imagine not being able to remember how to access your bank account or even where it is, this is just one example. The ramifications are extensive and scary.

You must make an LPA whilst you are still capable of making decisions for yourself.  This is called having mental capacity.

Thanks to modern medical science we all hope to live long and healthy lives but of course it isn’t always that way and of course it isn’t just illness that can overtake us and disrupt our lives and the lives of our loved ones, the unexpected can happen, such as accidents, brain damage or even the side-effects of medical treatment which can severely affect our ability to cope.  Contemplating the unthinkable is uncomfortable.  Conversely, however, it is comforting to know that in the event that anyone of us should find ourselves in the unfortunate position of not being able to cope with our own affairs, someone we know and trust, would be prepared and equipped with a Property and Finance Lasting power of attorney to act on our behalf and in our best interests.

The person you choose to be your property and financial affairs attorney is able to make or help you (the donor) make decisions about things like:

  • Money, tax and bills
  • Bank and building society accounts
  • Debts
  • Property investments
  • Pensions and benefits
  • The Attorney can use the donor’s money to look after the donor’s home, i.e. necessary repairs etc., and to buy anything they need to live from day to day, like food, toiletries and clothes.
  • The Attorney can buy family members birthday presents & cards etc., the personal things that you’ve always done and have meant a lot to you.
  • A Property and Financial Affairs Attorney can discuss decisions affecting the donor’s living arrangements, medical care etc with your health and welfare attorney, if you have one.

All the things that we do on a daily basis ourselves when we are well.

If you want to make an LPA which only deals with certain matters, you should make sure that it is drawn up carefully so that the attorney is clear about what authority they have when dealing with your affairs. A Property and Finance Lasting Power of Attorney can be used before you lose mental capacity and indeed immediately, if you so wish, or only when you lose mental capacity.

You can have as many attorneys as you wish, although it is common to appoint between one and four. Sometimes, for instance, a parent of one or more children, may wish to appoint all of them as attorneys depending on their situation. These may be appointed jointly or severally. It’s advisable not to have too many attorneys, as it can cause difficulties if lots of people are trying to act on your behalf at the same time and of course you must discuss the fact that you would like someone to act as  your attorney with them before appointing them. Not everybody would be happy to take on the responsibility and some people may not have the time to devote to the task. If you decide to appoint only one attorney you can nominate a reserve.

If you’d like to learn more about these crucial powers of attorney, visit www.confidencewills.co.uk and have a no-obligation conversation with one of our experienced consultants.

 

WHAT ARE THE FOUR TYPES OF POWER OF ATTORNEY?

Lasting Power of Attorney Cost.
  1. Ordinary or General Power of Attorney. A short form document that can only be used while the donor still has mental capacity.

 

  1. Health and Welfare Lasting Power of Attorney. For use, after mental capacity is lost, a document that enables trusted parties to make decisions for others on matters such as life sustaining treatments.

 

  1. Property and Finance Lasting Power of Attorney. For use both after and/or before mental capacity is lost, this document allows management of financial matters for a loved one.

 

  1. Enduring Power of Attorney. An instrument that was replaced by Lasting Powers of Attorney in 2007.

 

 

A Power of Attorney (“POA”) is a legal document by which one person (“the donor”) gives another person (“the attorney”) the power to act on their behalf. It’s a major decision for both parties to undertake.

 

The donor has to be sure that he/she is happy to hand over personal responsibilities to someone they completely trust, giving them the power to make decisions on their behalf, sometimes life changing decisions, depending on the type of POA they choose.

 

The first and foremost consideration for the donor is the reason why they are considering it.

 

Is it simply that they are getting older and are aware that as age creeps on it can bring with it the prospect of dementia or illness which would render them incapable of conducting their own affairs?

Or maybe a spouse/partner has died and the person left behind on their own doesn’t feel capable of handling certain aspects of life, such as financial affairs, investments etc. and wishes to relinquish the responsibility.

 

Sometimes the onset of disease or long-term illness brings with it the realisation that in the future decisions about care and welfare may have to be made for and when the person concerned may be incapable of making such decisions.

 

One thing is clear and that is that the donor has to be able to completely trust the person they choose to be their attorney to act in their best interest. They also have to be satisfied that the person they choose is capable of administering their affairs.

 

Having chosen the Attorney, it is then important to choose the most suitable POA;

 

  1. ORDINARY or GENERAL POWER OF ATTORNEY can provide the attorney with general authority over the donor’s estate. It can be limited to particular transactions and for a particular period of time, for instance if the donor required an attorney to act for them in their absence whilst working or living abroad for a period of time. It cannot be used for personal welfare.

 

There are two types of Lasting Powers of Attorney:

 

  1. Property & Finance Lasting Power of Attorney

 

Gives the attorney the power to manage the donor’s financial affairs in a responsible manner and in the best interest of the donor. Such factors may affect residential care, and avoid bills going unpaid.

 

  1. Health & Welfare Lasting Power of Attorney

 

A Health and Welfare Attorney makes, or helps the donor to make decisions about their daily care, medical care and if necessary where the donor resides. Consents for critical medical treatments may depend on a Health and Welfare Lasting Power of Attorney.

 

  1. New Enduring Powers of Attorney may not be made as these have now been replaced by Lasting Powers of Attorney.

 

It is well to remember that;

 

  1. Lasting Powers of Attorney are put in place to help and protect people in their time of need.

 

  1. The person invited to act on their behalf, the attorney, also has to make the decision to accept the responsibility based on the amount of work involved and the trust bestowed upon them.

 

  1. In the unfortunate event that you lose mental capacity for whatever reason and a Lasting Power of Attorney is not in place, The Court of Protection would appoint a Deputy. This would require a court order and annual supervision which would incur significant delays and fees.

 

If you would like support in creating these critical documents visit www.confidencewills.co.uk or call 0121 231 7010.

Funeral Plan Checklist

Funeral Plan Checklist
  • Organising a funeral has been compared to organising a wedding in its complexity;
  • Decisions must be made in a short time frame at a time of bereavement
  • The process can be overwhelming, planning in advance is a good idea

 

 

Funerals present a unique challenge at a difficult time. With average costs now rising about £5,000 and expected to exceed £10,000 by the end of the decade, planning in advance is a good idea. The below gives an idea of some of the factors that you will need to consider in planning a funeral.

 

 

Funeral Plan Checklist

Organizing a funeral requires a lot of time. Often, the process involves a lot of pressure, and this might force you to dole out a lot of money. Besides being time-oriented, the emotions involved might result in some hiccups amid the planning process. For this reason, we have highlighted a detailed funeral plan checklist below.

Service

To get the best funeral service, you should focus on the budget and the location of the event. If possible, go for companies that might allow a pre-paid funeral plan. You might be lucky to find experts to help you do the planning bit as you mourn the deceased.

Flowers

Think about the best flower that would match the message you are trying to pass. There are many types of them, and you must ensure that the right type of flowers is available on time. If possible, you can check with online retailers to pick one that best suits your budget.

Date and Time Planning

The date and time of the event should be carefully planned so that it does not inconvenience anyone willing to attend. Most of the time, it is safe to do it over the weekend when most people are out of work. Also, it should be done in the afternoon to allow everyone enough time to get organized to attend the event.

Personal Requests

Make sure to pay close attention to the deceased’s special requests when they were still alive. If their wish was to be buried in a private cemetery or to be cremated, it is important that you do your best to honour that. Also, it is okay if some requests are impossible to meet; however, there needs to be some effort toward meeting most of them.

Doctors’ Fees

If the doctors’ fees are not cleared, this is the best time to do so. Talk to the doctors about pending payments and arrange to have them cleared on time. In case the information is unclear, ask for proof so that you only pay for the actual pending fees.

Gravedigger Fees

Ask yourself about the gravedigger fees and how they will be paid. You must make this arrangement in time so that the resting place is ready when the body arrives at the cemetery. The fees vary among diggers, which is why there is a need to budget for this.

Contact with Bereaved

When arranging the burial, the bereaved should be contacted regularly. They need emotional support to get through the tough times. Therefore, in your checklist, you want to give this a priority and make sure that it is done.

You can contact them via phone calls, emails, or messages sent on the phone. Also, try to see them in person so that they do not feel lonely. Assist them in any way possible and genuinely show them that they are not alone. While working on the plan, make sure that the deceased is well taken care of at all times. To get premium services from experienced organizers, it is advisable to consider a pre-paid funeral plan.

 

Confidence Wills work with the country’s best funeral planners and are able to support you. Contact us now on 0121 231 7010 or email info@conofidencewills.co.uk for more information.

 

 

WHY HAVE A PRIVATE FUNERAL?

Private funeral
  • A PRIVATE FUNERAL is when a small gathering of immediate family and close friends, attend by invitation only.

Although most celebrities usually have private funerals, the average services are open

to the public.  There are good and understandable reasons for choosing a private funeral.

First and foremost, of course is it’s private.

 

  • Some people have led very private lives and may request that their funeral be a quiet     intimate affair with only their close family and friends in attendance. The family may feel

they want privacy at a very emotional and difficult time because they are unable to cope with their grief in public.

 

  • It maybe that the person arranging the funeral just can’t cope with organising a large gathering in their state of grief. Also, expense and budget may come into it and that is certainly a private decision and nothing to be ashamed of.

 

How many times have you heard someone say “I went to his funeral; the church was packed!”

Suggesting that somehow that it was an indication of the deceased’s popularity! Whilst that may be so, I don’t think that it is necessarily the case! It may just be that they were a member of a very large family or worked for a large company or belonged to lots of organisations, possibly represented by people that were unknown to them!

Conversely the fact that a private funeral is not attended by lots of people is also no reflection on the popularity of the deceased! But simply the choice of the people concerned.

A private funeral reduces the pressure on the organisers of the occasion, financially and emotionally. Whilst providing a meaningful and intimate funeral for their loved ones, the pressure of having to have a top of the range casket, an expensive showy floral display, several funeral cars and an expensive wake may be avoided.

Emotionally a smaller private funeral means you can grieve without the pressure of having to conceal your grief, in a room full of people, some of whom you may not know.  You may not feel strong enough to socialise and exchange small talk with a lot of people at such a difficult time. A private funeral also avoids the need for prolonged funeral planning thus removing the stress when least able to cope with it and at a time when you would rather focus on coping with your grief and the grief of others who were close to the deceased.

Another advantage of a private funeral is that there are many ways for close friends and family to celebrate the life of the deceased for instance, why not choose to go to the deceased’s favourite restaurant and share memories together, or if its summer time how about a picnic somewhere peaceful, it’s a huge comfort to be with people you love and trust and share a happy time to remember for ever, something special between just you and your nearest and dearest.

It is of course, a very personal choice, and it really is a case of what you feel you want at the time and also what the deceased may have chosen.

 

 

Want to know more? Talk to us…

No pushy sales people, no jargon, just clear, helpful information, contact Confidence Wills now on: 0121 231 7010 or email info@conofidencewills.co.uk.

 

WHY HAVE A FUNERAL SERVICE?

Why have a funeral service
  • Humans have held some form of funeral service for those they have loved and lost throughout time it would seem.  Grief comes naturally and is very painful to suffer and a funeral service is an opportunity to express and share that grief with friends and family.

 

  • A religious service is an opportunity to pray for the soul of the person you have lost and to connect with your God on a personal level thereby reducing the sense of total loss.

 

  • If it is a non-religious service it helps to acknowledge that someone we love has died and the gathering for the service of friends and family provides a support system.

 

The sort of funeral service will depend on a variety of aspects not least of course the desire of the deceased person. I have known people who have passed over who have planned their funeral service to the last detail, choosing the hymns, speakers, guests, their choice of flowers, even where the wake should be held.  Others don’t wish to discuss it or even think about it and leave it to their family or friends to decide. It’s a very personal matter and some people don’t want to think about death or anything associated with it. Perhaps death and the prospect of leaving the world behind frightens them. Whatever the reason it’s their choice.

If there are no plans or requests in place by the deceased then it is often the nearest and dearest who decide on the type of funeral service and it is often based on the knowledge of and the relationship with the deceased. My mother would never discuss funeral arrangements, satisfied that she had made a will stating her wishes for her estate and she had put in place a power of attorney, she would laugh and say, “make sure you have a party and the girls wear pretty dresses” so we did our best and knowing that she loved red roses her coffin was covered with them!

She had been a war time bride and so the music in the church was one of her war time favourites,

‘We’ll meet again’ and I hope we will. She had lived a long and happy life. Of course, it’s very different if someone has died tragically in an accident or prematurely of illness, or even before they’ve had a life, at birth or shortly afterwards. However someone dies or at whatever age, the loss for those that loved them goes deep and whatever sort of funeral service is decided upon, be it a large gathering or an intimate small gathering, it is, in my opinion an occasion for a very special opportunity to say a final Goodbye and as we celebrate every birth of a new life so we are able to celebrate the joy of having known and loved the person we’ve  lost at whatever type of funeral service we or they choose.

 

 

 

Want to know more? Talk to us…

No pushy sales people, no jargon, just clear, helpful information, contact Confidence Wills now on: 0121 231 7010 or email info@conofidencewills.co.uk.