Power of attorney

• victor matcham

  • Registered: 5 Oct 2021
  • Posts: 1,170
  21 February 2022     11:44374920
  #1      
  UNtil today I did not know that a power of Attorney only acts to a person still living, that means if you have one it will end when you die, only a will,will let the person you want to act on your behalf and what you want to do with what you leave .
• Matey

  • Location: Dover
  • Registered: 11 Oct 2021
  • Posts: 178
  21 February 2022     14:59374923
  #2      
  Yes, that's right Vic. We did ours for each other in August last year and they are now registered but not yet active. They say it takes up to 20 weeks, but we still wait!
  
  If the person dies, then the LPA obviously becomes void. Then the will kicks in.
  victor matcham likes this
  Life without a dog is like a salad without lettuce.
• victor matcham

  • Registered: 5 Oct 2021
  • Posts: 1,170
  21 February 2022     15:16374924
  #3      
  In my way of thinking unless both of you come very unwell is that not a waste of alot of money the cost of each one is about £400+and you still have to pay out for a will if you die and the will cost is very small to that of a power of Attorney. ?thank you for your comments sir
• Button

  • Location: Dover
  • Registered: 22 Jul 2016
  • Posts: 3,109
  21 February 2022     15:54374936
  #4      
   victor matcham wrote:

  In my way of thinking unless both of you come very unwell is that not a waste of alot of money the cost of each one is about £400+

  
  You could think of an LPA as a insurance policy against the risk of either or both of you becoming "very unwell" (ie. not in your right mind). It's up to you to decide how big that risk is and whether the cost of the LPA (the "insurance premium") is worth it. For example, if you're planning on dropping down dead anytime soon, you may consider that an LPA is a bit of an irrelevance. On the other hand, if you're planning on going on for ever, consider this: some numpty drives into you, killing one of you and incapacitating the other. Likely? Probably not. Possible? Oh sure - we've had two near misses in the past 10 years that were way too close for comfort. Your call!
  
  I have to confess that this is a 'do as I say, not as I do' suggestion, because the pandemic delayed us doing our LPAs and we haven't got around to it since.
  victor matcham likes this
  (Not my real name.)
• victor matcham

  • Registered: 5 Oct 2021
  • Posts: 1,170
  21 February 2022     16:19374941
  #5      
  I m 80 this year and I think that is to old to go ahead with it.sir
• Guest 2547

  • Registered: 1 Apr 2018
  • Posts: 2,158
  21 February 2022     16:30374942
  #6      
  You're right, Vic. Lasting Powers of Attorney only prevail whilst the donor is alive and are designed to allow for families and friends to manage their loved ones affairs should infirmity prevent them from doing so. The reasons, either physical or mental, are unimportant. If you're worried, for any reason, see a professional advisor. But, of course, always leave a will. I know from experience what problems dying intestate can cause.
  victor matcham likes this
• Matey

  • Location: Dover
  • Registered: 11 Oct 2021
  • Posts: 178
  21 February 2022     18:36374952
  #7      
  Rays right but if you are attorney for someone other than your spouse, then having an LPA in place makes things an awful lot easier I can tell you. Banks, building societies, gas electricity and phone won’t speak with you unless you have it and it can become very difficult. My own step mum is beginning to suffer and the first thing the doctor asked ‘who holds the LPA?’. So I would advise it, you can get half price if you only get pension I think.
  victor matcham likes this
  Life without a dog is like a salad without lettuce.
• victor matcham

  • Registered: 5 Oct 2021
  • Posts: 1,170
  22 February 2022     09:10374970
  #8      
  Thank you for the very good points you have made it has got me thinking it over again