The Mental Capacity Act 2005 provides a framework for an individual to choose someone they trust to make decisions about their Property & Financial Affairs and Health & Welfare when they lack the mental capacity to make decisions them self.
Lasting Power of Attorney – Property and Financial affairs
This lasting power of attorney allows a person to choose people to act on their behalf (as an attorney) and make decisions about their property and financial affairs, when they are unable to make decisions for them self. This can include running bank accounts and savings accounts, decisions about making or selling Investments and selling property, and spending money.
The attorneys can use this lasting power of attorney only after it has been registered and stamped on every page by the Office of the Public Guardian. The attorneys can make decisions for the person who is giving this type of power of attorney as soon as this lasting power of attorney is registered – both when they have mental capacity and when they lack mental capacity, unless a restriction has been put in the lasting power of attorney
Lasting Power of Attorney – Health and Welfare
This lasting power of attorney allows a person to choose people to act on their behalf (as an attorney) and make decisions about their health and personal welfare, when they are unable to make decisions for them self. This can include decisions about their healthcare and medical treatment, decisions about where they live and day-to-day decisions about their personal welfare, such as diet, dress or daily routine.
The attorneys can use this lasting power of attorney only after it has been registered and stamped on every page by the Office of the Public Guardian. The attorneys can only act when the person who is giving this power of attorney lacks the capacity to make the decision in question. The person may have capacity to make some decisions about their personal health and welfare but not others.
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Or Call Brajinder Daved of Olympian Estate Planning Solutions on 01582 417027