Powers of Attorney

Loss of mobility or illness can make it difficult to manage your affairs

An elderly relative losing capacity is difficult enough for loved ones to deal with, without the added worry that finances are becoming muddled.
The prospect of unpaid bills can cause unnecessary stress and anxiety, and delay someone’s recovery.
Having someone you know and trust and more importantly understands you, to manage your affairs, is far preferable than a court official.
Even the young can encounter problems due to accident or illness.

Protecting Your Wealth

Growing older can mean problems for us and our loved ones
What If I Am Unable To Manage My Affairs?

There may come a time in your life when you are unable to manage your financial affairs or personal welfare, owing to some form of incapacity and you will need someone to act on your behalf.

Even when we are young, we can find ourselves incapacitated owing to illness or injury and it can be invaluable having a reliable person, who is able to manage your personal affairs and remove the anxiety of having unpaid bills, at a time when you most need peace of mind.

Similarly, as we get older, the need for an attorney increases as we are more prone to illness and injuries.

By creating a Power of Attorney in advance, ensures that if the worst were to happen, you can rest assured that both your financial affairs and personal welfare are in safe hands.

Speaking for you at a critical time

Growing older can cause unexpected problems for us and our loved ones. Especially if we can’t look after or speak for ourselves. We may need someone to act on our behalf, which is where Lasting Powers of Attorney are essential.

They can take control of your personal affairs and remove the anxiety of having unpaid bills. Which is what you need during such a critical time.
As we get older, the need for such a person increases. But loss of control due to illness and infirmity can affect us at any age. Loss of capacity is diverse – it can affect anyone at any time. And once it does, your independence can be lost.

Without a Lasting Power of Attorney, you will fall under the Court of Protection. So, that means they will make all the decisions for you. It’s a costly and disempowering process full of stress for your family. And the process could go on for much longer than you thought.

A Power of Attorney protects your financial affairs and personal welfare, whatever happens.

Care

No one wants to think they might need to pay for care. And its rising costs can significantly impact your wishes.
But when making plans, it’s important to address any concerns you may have, now. Furthermore, the earlier you do this, the better the potential outcome for you and your beneficiaries.

Don’t worry if you’ve been unable to plan, either. It’s still possible to provide help and assistance.

What will I have to pay?

A person entering care automatically becomes means tested by the state. So, all your capital assets – including your home – are assessed. The maximum amount of public funding is possible. But only if you have assets below £14,250, however.

So, should you or a family member need long-term care, we arrange for help. Additionally, we advise in relation to various issues that may arise.
If you’re facing a financial assessment, we can assist. Plus, we ensure the Local Authority follow the correct guidelines. For example, has a Continuing Healthcare Assessment and a Needs Assessment been conducted?

If you’re moving into a home, we can arrange for advice on the placement contract. We also speak to the Local Authority on your behalf about the financial assessment.

Should you have any concerns at such a difficult time, Simply Wills & Trusts are right by your side. We provide you with expert help every step of the way.