February 2024

54
Wanstead Village Directory
POWER PLANNING
Anna Orpwood from local solicitors Edwards Duthie Shamash encourages
you to put a plan in place for the future management of your affairs,
and explains why Lasting Powers of Attorney are important to get right
Have you put a plan in place for the
future if you can no longer manage
your property and financial affairs
or make decisions about your health and
welfare? As a solicitor working in this field,
I see so many clients who very sadly leave
these decisions too late.
Lasting Powers of Attorney (LPA) can only
be put in place when you have full mental
capacity. There is a real misconception that
LPAs are only for very elderly clients and
those on the verge of dementia – often, at
that point, it is too late to action, and the only
option then is lengthy court proceedings with
the Court of Protection.
There are two types of LPAs, both very
different. It is important you understand the
benefits of both when making plans and
decisions about your future. You need to
consider who your attorneys might be and
what extent of authority you are happy for
them to have. And you need to talk through
all of the options and ensure you make the
right choices.
There has been much in the news in recent
years about how husbands and wives have
been left shocked when they realise they have
been unable to access their loved ones’ funds
when it is needed, for example, to manage
their care or investments. People assume that
as they are married, they will automatically be
able to access such accounts – this, however,
is not the reality. A Lasting Power of Attorney
would prevent upset and stress at a time
when it would be most unwelcome.
Research by Solicitors For The Elderly shows
that 65% of us think our next-of-kin will make
medical and care decisions for us if we are
no longer able to. In reality, this is not the
case unless a Health and Welfare Lasting
Power of Attorney is in place. Whilst there’s
been a rise in the number of enquiries made
about LPAs during and since the pandemic,
only 22% of people in the UK actually have
one in place.
To avoid this difficult kind of legal situation,
it is important to use a specialist lawyer who
is experienced in this area of the law and
is trained to support people making these
crucial, complex and difficult decisions.
According to Which?, 22,000 LPAs are rejected
every year, so it is essential you get your legal
documents right.
There are many things to think about with
Lasting Powers of Attorney and using a
specialist will ensure you have fully considered
all of your options. I understand making these
decisions can seem daunting, and setting
up LPAs is a big decision, but it will give you
peace of mind in future years once you have
done so.
Edwards Duthie Shamash is located at
149 High Street, Wanstead, E11 2RL. For
more information, call 020 8514 9000 or
visit edwardsduthieshamash.co.uk
To advertise, call 020 8819 6645 or visit wnstd.com