The documentary “Kate Garraway: Finding Derek” that aired recently highlighted the struggles TV presenter Kate has faced since her husband, Derek Draper, was admitted to hospital with Covid-19 in March 2020. Kate has openly spoken on several occasions about the financial issues she has faced about being unable to access accounts in Derek’s name without a power of attorney.
Kate was unable to access funds to manage her husband’s care or refinance her mortgage. She didn’t even have the legal right to see his medical notes, owing to data protection.
There are two types of Lasting Power of Attorney (LPA). A LPA for Property and Financial Affairs gives the legal authority for your loved ones to manage your assets on your behalf, for your benefit, and a LPA for Health and Welfare enables your loved ones to make decisions as to your care and medical treatment in situations where you are unable to do so.
Research carried out by the Solicitors for the Elderly (SFE), 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 isn’t the case unless a Health & Welfare Lasting Power of Attorney is in place. As far as the law is concerned the title next of kin means nothing once that someone becomes an adult. When a person reaches 18 their parent or guardian ceases to have any legal rights over their property or well-being.
The SFE found that only 22% of people in the UK have set up a Lasting Power of Attorney.
According to Which? 22,000 Lasting Power of Attorneys (LPAs) are rejected every year so it’s essential that you get your legal documents right.
The Private Client department at Neves deals with both types of LPAs and would be able to give comprehensive advice regarding these. We’d be happy to hear from you with your enquiries and would urge everyone, regardless of their age, to make LPAs. Contact us by calling 0330 0945 500, email email@example.com or complete our Contact Form and we'll get back to you.