What happens without a Power of Attorney?
If you do not have Properties and Affairs LPA, your bank account might be frozen, meaning that your business partner, spouse, children or other family members and close associates will not have access to the capital they need to pay for necessary medical or legal bills, as well as potential funeral costs.
With no Health and Welfare LPA your family will have no idea what kind of medical treatment you consent to and if you would prefer to live at home or in residential care if you need permanent care. Don’t leave these important decisions up to chance. Contact us today to secure lasting power of attorney from a person you trust. This is something which Cotswold can help with.
Helen Strong, Head of Private Client at Brindley Twist Tafft & James said when interviewed by the Coventry Telegraph; “If you die without a will the intestacy rules, which say who should inherit by law, come into force. This means that your assets may not go where you want them to. "For example, in the case of a second marriage, if the first spouse dies leaving assets worth up to £250,000 and they haven’t made a will, all those assets will be left to the surviving husband or wife.” She reinforces the point by saying “Forty-two per cent of first marriages end in divorce and family life has become more complicated.” Read the full interview