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11 January 2012 12:07
mental health
Make “stitch in time” against possibility of dementia
A recent focus in the media on Alzheimer’s disease and other forms of dementia has led to an interest in making Lasting Powers of Attorney, according to law firm Bridge McFarland.
With dementia affecting more people every year, the firm has urged even more people to consider making “a stitch in time”.
Bridge McFarland partner Patrick Purves, who head’s the firm’s private client department, said: “We so often see sad situations where a person's understanding and memory has start to fade and become unreliable. Family members – most often daughters – therefore find themselves having to take over financial, banking, pension and even house-move decisions but, if things have been left too late, this can mean having to apply to the Court of Protection for a full deputyship order. This is expensive, typically £1,500, complex, time-consuming and leads to recurring annual expense.
“It is so much simpler if people act in time by making a Lasting Power of Attorney (LPA), where the person making it, the donor, appoints one or more people to take over in the event of loss of ability. These are not cheap, especially if done properly, but the cost is a fraction of a deputyship order.
“The LPA has to be registered before it takes effect and it is a good idea to do this before it is needed and while the donor is still able to correct any errors - the Office of the Public Guardian is very strict about any slips or peculiarities in the document.”
Mr Purves said it was possible but not advisable for people to draw up their own documents.
“A home-made LPA can go wrong, as home-made wills often do, because of hidden pitfalls or the quite complex and rigorous registration process. While a solicitor working on a fixed fee is not absolutely guaranteed to get things right, a properly accredited lawyer will sort out any problems without further expense and, of course, solicitors must carry adequate insurance against such mistakes.
“Just as most sensible people wear seat belts even though we don’t expect to crash our cars, we should all consider talking things over with our families and making lasting powers of attorney even though we do not expect to lose our mental capacity. It is about having consideration for those who have to pick up the pieces should the worst happen.”
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