We talk to all our clients about Powers of Attorney and recommend to them that they are put in place as early as possible.  Powers of Attorney are really a form of insurance that will protect you and your family in certain circumstances.  Like any insurance policy, you put them in place and hope you never need them.  However, if you need them as a result of ill health in the future, but don’t have them, you and your family will face an even more difficult and worrying situation which can impact you and your family in practical, legal and financial ways.

As we talk to our clients about Powers of Attorney, we have found that some people are very keen, but others are a bit suspicious and a bit worried about putting them in place.  This suspicion and worry seems to come from some myths and common misunderstandings about Powers of Attorney.   In this article we’ll discuss the most common ones and put the record straight.  Hopefully, this will help people make an informed decision about Powers of Attorney and encourage them to put them in place.

“Powers of Attorney are too expensive”

This is the most common comment we receive about Powers of Attorney.  It’s true there is a cost involved with Powers of Attorney.  Generally, a solicitor will charge a fixed fee to draft and arrange the registration of the documents and there is also a registration fee of £82.00 per Power of Attorney.  These are one-off payments that ensure the Powers of Attorney are in place and ready should you ever need them.

However, this one-off cost needs to be balanced against the costs and fees if you don’t have Powers of Attorney, but need them in the future as a result of ill health.  In this situation, in order to make any decisions or take any actions for you, your family will have to apply to the Court of Protection to be appointed as your Deputy.  This is a long, complex process and it will be far more expensive in terms of legal fees than the fixed fee charged for putting in place the Powers of Attorney.

We firmly believe that it’s much better, safer and cheaper for you and your family to put in place Powers of Attorney as early as possible than to take the risk of not putting them in place and having to apply to the Court of Protection.   

“My wife / husband / next of kin will be able to make decisions for me if I become ill”

This isn’t true unfortunately.  If you don’t have the mental capacity to make your own decisions, nobody has the legal right to act on your behalf in relation to your financial, property or healthcare decisions unless they have been granted the legal authority to do so by a Power of Attorney.  This includes your wife / husband / next of kin.

“I have a joint bank account so I don’t need Powers of Attorney”

Again this also isn’t true.  If you have a joint bank account and one of you loses capacity, there is no guarantee that your husband / wife / partner will be able to access the joint account to make payments for bills, the mortgage, expenses etc.  Your bank is entitled to stop access to the joint account if one of you loses capacity until a copy of the Power of Attorney document has been provided to them.  If Powers of Attorney have not been put in place by the time one of you loses capacity, it is too late to put them in place and access to the account may be denied by the bank.  

If you have Powers of Attorney in place, your Attorney can access the bank account and ensure all payments are made.

“I have a Will so my Executor will be able to help me if I become ill”

A Will is an entirely separate document to the Powers of Attorney.  A Will is only for when you pass away, a Power of Attorney is only for when you are alive.  Your Executors and Attorneys may be the same people, but they are entirely different roles.  Executors have no authority to act on your behalf in any situation while you are still alive.  The only way to appoint someone to assist you while you are alive with financial, property and healthcare decisions is by putting in place Powers of Attorney and appointing an Attorney.

“I’m not ill at the moment so I’ll wait to see if I get ill before I put the Powers of Attorney in place”

This is risky and we would not advise you to do this.  Your Powers of Attorney can only be put in place by you.  You must appoint your own Attorneys and you must have mental capacity to do this.  If you wait until you’re unwell and you actually need the Powers of Attorney, it may be too late for you to put them in place.  Your family will then have to apply to the Court of Protection to make decisions on your behalf.

“I don’t want to put in place Powers of Attorney because I don’t want to lose control over my finances or health decisions while I still have capacity to make my own decisions”

This is a common worry for people in relation to Powers of Attorney.  A Property and Finance Power of Attorney can become active to allow your Attorneys to assist you with financial and property matters while you still have mental capacity.  However, it cannot be used without your consent so you will still have control over your financial and property decisions.  

A Health and Welfare Power of Attorney can only become active if and when you lose mental capacity to make your own decisions and cannot be used while you have mental capacity. 

We tell our clients who are worried about losing control of their affairs that the only way to keep control is by putting in place Powers of Attorney.  This is because, should you become unwell, it is your appointed Attorneys making decisions for you in your best interests and in the way that you have directed them to do.  Without Powers of Attorney, those decisions will be made by a court and/or someone you haven’t appointed to act for you.  

We hope this article has cleared up some myths and misunderstandings about Powers of Attorney, but if you would like to discuss this further please contact us on 0161 749 9000 or via the website for a free, initial informal chat.  We offer home appointments and fixed fees as standard.

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Leech & Co are happy and proud to be involved in such a great community project and we’ve contributed an article to this first issue.  Here it is below, and, as you can see, Matt is talking about Wills, Powers of Attorney and Probate and how we can help you and your family with these matters.  If you or anyone you know needs assistance with these, please feel free to call us for a no obligation chat on 0161 749 9000.

To read online click ‘https://www.connectingtrafford.online/‘ and go to page 6-7

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We can help you with Wills and Trusts, Powers of Attorney, Funeral Plans, Probate and administering the Estate (if a loved has died and you are an Executor).  There are full details on our website – www.leechandco.co.uk – together with Factsheets, Blogs and FAQs to help you understand the issues involved and why these matters are so important.  Below is a very quick guide to help you get started with a plan.

Wills

What happens if you have a Will

Your family will know exactly what your wishes are and these wishes can then be carried out without arguments; your property, assets, savings and belongings will go to who you want them to go to; your family will be protected from legal and tax bills; if you have children under 18, your wishes as to their future will be clear and so can be carried out.

What happens if you don’t have a Will

Your family will not know what your wishes are and so may disagree on what to do adding to their stress at an already emotional time; the law will decide who receives your property, assets, savings and belongings and so these may not to go to who you want them to go to and/or a person who you want to receive something may receive nothing; there may be legal and tax bills; if you have children under 18, you will have no say as to what happens to them when you are not here.

A Will is one of the most important documents you will ever make.  It is vital to have one and it is vital that you get it right so that your future, and your family’s future, is protected.  The relatively small cost now of using a Solicitor to prepare and execute a valid, legally binding Will that will carry out all of your wishes will be a saving in all sorts of ways down the line for you and your family.

Making a will now is a small investment in terms of time and money that will pay off in the long-run for you and your family.  Unfortunately, nobody knows when the time will come so having a Will in place as early as possible will give you and your family peace of mind, legal certainty and financial security.

Powers of Attorney

What happens if you have a Power of Attorney

If you are ever unable to look after yourself or make decisions to do with your health or finances e.g. dementia, a stroke, long-term illness or isolation etc, your family will immediately be able to look after you, make decisions for you so that you are supported financially and looked after in terms of your health and wellbeing; your family will have peace of mind knowing that you are protected.

What happens if you don’t have a Power of Attorney

If you are ever unable to look after yourself or make decisions to do with your health and finances e.g. dementia, a stroke, long-term illness or isolation etc, your family will not be able to access your finances, will not be able to contact your services or utility providers on your behalf and will not be able to make decisions for you to do with your health and wellbeing.

Essentially, your family will be very limited in what they can do for you.  Your family will have to apply to the Court of Protection for court orders to access your finances and make decisions on your behalf to do with your health and wellbeing.  This is a lengthy, complex and expensive process.

Again, as with a Will, a Power of Attorney is one of the most important documents you will ever make.  It is essential that everyone has one in place to protect them and their family should there ever be a time they are unable to look after themselves or make their own decisions.  Think of it like an insurance policy – you hope you never have to use it, but it is better to have it in place and not need it than to need it and not have it.

The relatively small cost now of using a Solicitor to prepare and register a legally binding, valid Power of Attorney that ensures you are protected in terms of your health and finances is far outweighed by the cost of applying to, and dealing with, the Court of Protection and the emotional cost to your family of being unable to look after you.  It is a small investment now in terms of time and money that that will pay off for you and your family in the long-run.

Funeral Plans

What happens if you have a Funeral Plan

The cost of your funeral will be fixed at today’s prices; you will not pay or save more for your funeral than you need to; the cost can be spread over 25 years; the cost of your funeral will be covered in certain circumstances even if you haven’t finished paying for it; your family will not have the cost and stress of organising your funeral as this will all be taken care of by the Funeral Director in accordance with your wishes; you can specify your wishes so your family is in no doubt about the funeral you want.

What happens if you don’t have a Funeral Plan

Your family will be left with the cost and stress of arranging your funeral at what will be an emotional and upsetting time for them; the cost of the funeral will be the cost at the time which may be significantly higher than today’s costs; your family will not know the type of funeral you wanted and so this may become the cause of family arguments and fall-outs.

A Funeral Plan is basically a sensible way to pay for your funeral, to ensure you have the funeral you want at the price you can afford and to avoid family arguments and fall-outs.  It just makes sense to put a Funeral Plan in place as early as possible.  They are available for all over-50s, there is a choice of funerals, costs and flexible payment plans and there are no health or background checks.

How Leech & Co can help you

Leech and Co can help you put in place your Will, Power of Attorney and Funeral Plan.  You don’t have to have all three, but having even one in place will help the future be that little more certain and safe for you and your family.

We can also help you if you’re an Executor for a loved one’s Will with the Probate and Administration of the Estate.  Here is a guide to the steps you need to take – What to do when a loved one dies – a practical and legal guide – but please call us so we can help you straightaway.

If you have concerns about your finances and your future financial plans, we work with a network of trusted, experienced and friendly Independent Financial Advisers who would be able to help you and we would be happy to put you in touch with them.

At Leech & Co, we understand that matters relating to Wills, Powers of Attorney, Funeral Plans and Probate are delicate, emotional and stressful.  We will treat you at all times with compassion, kindness and empathy.  We pride ourselves on being friendly and approachable, we’re good listeners and we will talk to you in jargon-free plain English.  We are here to provide you with expert, professional, legal advice and we work quickly and efficiently to ensure a good outcome for you.

We offer fixed fees wherever possible and flexible payment plans to make our services reasonable and affordable for everyone.

We understand that dealing with these matters is an upsetting and emotional thing to do and it’s something you want to put off and not think about.  However, we aim to make the whole process as stress-free and smooth as possible for you.  Once these documents are done, they’re done and you don’t have to worry about them – you have put in place a plan that will protect you and your loved ones’ future.

Further reading for full details

When can I make a Will? When should I make a Will? Why do I need a Will?

Powers of Attorney – do I need a Power of Attorney?

Funeral Plans – do I need one?

The post How Leech & Co can help you in these uncertain, worrying times appeared first on Leech & Co.

We’ll also talk about the alternatives to using a Solicitor and why you should think carefully before doing your Will and Power of Attorney yourself, either online or with a Will-Writing pack, or using a Will-Writing company. 

Do I need to use a Solicitor for a Will and Power of Attorney?

No, you don’t, but you should do. 

Let’s start with why you should use a Solicitor to make your Will and Power of Attorney.  The main reason is because we’re Solicitors.  This may sound obvious, but this gives you certain guarantees, assurances and peace of mind that you can’t get online or from a pack or from a Will-Writing company. 

All Solicitors:

• Are fully regulated by the Solicitors’ Regulation Authority (SRA) which means we are bound by a strict set of professional rules and guidelines intended to protect you at all times

• Hold full professional insurance which covers you if something should go wrong

• Are bound by professional ethics which means we must always act in your best interests and everything you discuss with us is 100% confidential

• Are fully-trained and we have to ensure that our training and knowledge is constantly being updated

• Are experienced in identifying other areas for which you may need assistance e.g. Funeral Plans, financial advice, family law, employment help, so you receive an all-round service

• Providing Wills and Powers of Attorney are specialists in this complex area of law and can provide you with full advice that is specific to you.

Using a Solicitor gives you the peace of mind and the guarantee that you are fully protected at all times, that you receive the best advice from a specialist, expert, trained professional and that your Will and Power of Attorney will protect you and your family in the future.

On the other hand, a DIY Online Will, a Will-Writing Pack or a Will-Writing Company cannot offer you any of the same protections and guarantees.  In fact, it’s the opposite – if you don’t use a Solicitor, your Will and Power of Attorney may not be valid or it may not do what you want it to do, but you will have no way of knowing this until the documents are needed.  By then, of course, it’s too late.

So, while you think you’ve put a plan in place for you and your family, you may have left them unprotected and uncertain of your wishes. 

Can I do my Will or Power of Attorney myself?

Yes, you can, but you shouldn’t. 

People have made some assumptions about Wills and Powers of Attorney which makes them think they can do them themselves, but these assumptions are generally not right:

Making a Will and Power of Attorney is easy and straightforward

Unfortunately, this isn’t true.  What is true is that they are very easy to get wrong.

It’s definitely true that you don’t know what you don’t know.  So, while you’re completing your online questionnaire or telling the person from the Will-Writing company what you want, you won’t know if there’s a better way of doing what you’re asking, that there are likely to be other things you need to consider, that what you’re asking can’t be done etc.  If you aren’t advised fully and correctly about your options and what can be done, it is likely your Will and Power of Attorney won’t do what you want it to do.

You also won’t know that there are strict rules with how to set out, sign and witness a Will and Power of Attorney – if any of these rules aren’t followed, the Will and Power of Attorney might not be valid.

If you’ve done the whole process yourself or with a Will-Writing company and still think the process is easy and straightforward, you’ve probably not got it right.  (You might need a Solicitor to have a look at it for you and provide some advice or start again.)

Using a Solicitor will be too expensive

There are various prices for Wills and Powers of Attorney provided by Solicitors in the region of £150.00 to £300.00, although some can be more expensive.  If this seems expensive, remember you are paying for the protections and guarantees that are listed above, the experience and expertise of the Solicitor, the all-round care and full advice, the peace of mind, the professional help etc

We’ve all seen the adverts online for Wills for £19.99.  If this seems too good to be true, that’s because it is.  The online Will for this low price will likely have terms that you will have to pay for regular reviews, pay for storage of the Will etc.  These generally come included within the Solicitor’s fees and this is certainly true at Leech & Co.

The online Will also offers you no protection or guarantees at all.  If it’s wrong, it’s wrong and your family will only find that out when it’s too late to do anything about it.  The online, cheap Wills are a false economy and you are likely, in the long-run, to end up paying a lot more for a lot less than if you had used a Solicitor.

Using a Solicitor for a Will and Power of Attorney might seem expensive at the time, but what you are getting is definitely value of money that may save you a lot of money, and save your family a lot of upset and stress, in the long run.

Doing my Will and Power of Attorney myself will be quicker and less hassle

It’s true that if you sit down at your computer and fill in a questionnaire, your Will and Power of Attorney can be produced quickly and the whole process will be fairly hassle-free.  However, for the reasons talked about above, it’s likely the document you have in your hands won’t be worth the paper it’s written on and may cause long-term problems and issues for you and your family.  Again, the time and hassle saving you have made is probably a false economy.  In the long-run, it would have been better to spend a little more time and let a Solicitor deal with all the hassle for you. 

A good Solicitor will minimise the time and effort and hassle for you throughout the whole process.  With a Solicitor, it really will be easier than you think.  The Solicitor does the hard work so you don’t have to. 

For example, at Leech & Co, we will always visit you at your home (unless we are unable to due to reasons outside of our control, for example the Coronavirus) at a time that is convenient for you so you don’t have to come to us.  We also offer fixed fees so you know the price you will be paying before we start working for you.

What you also need to consider with all of the points mentioned above is what would happen if things go wrong with your Will and Power of Attorney – the process then will not be easy or cheap or hassle-free.  See below for full details!

I’m not using a Solicitor to do my Will and Power of Attorney – what could possibly go wrong?

Without the guarantees, protections and assurances of using a Solicitor, including full insurance cover, quite a lot can go wrong.

If your Will does not do what you want it to do, by the time this has been discovered, you can’t do anything about it.  Your property, assets or valuable items will be distributed in accordance with the Will and your family will be left to work out and sort out what happens with your funeral, any items not included with the Will etc.  If a member of your family does not agree with the content of your Will and believe it does not carry out your wishes, they will have to take legal action to try and correct it.   

If your Will is found not to be valid, again, you won’t be able to do anything about it.  Your estate i.e. your property, assets, valuable items etc will be distributed in accordance with the rules of Intestacy.  These are unlikely to carry out your wishes and/or they are unlikely to be the best way to deal with your estate. 

If your Power of Attorney is not correct, invalid or not registered correctly or in time, your family will have no choice, but to apply to the Court of Protection for assistance in dealing with your property, finances, health and welfare.  This is a lengthy, complex and expensive process.

The aim of having a Will and Power of Attorney in place is to make sure your wishes are carried out, you are looked after and your family is saved the upset, stress and expense of dealing with matters without any assistance from you or the protections these documents provide.  However, if anything goes wrong with your Will or Power of Attorney, this is precisely what will happen. 

It is simply not a risk worth taking, for you or your family.  Using a Solicitor to make your Will and Power of Attorney removes that risk and gives you the peace of mind that things won’t go wrong.  Even if something does go wrong, for whatever reason, you and your family will be fully insured.

You’re a Solicitor, so you would recommend using a Solicitor, wouldn’t you?

Well, yes, but that’s because we genuinely believe it’s best for you and your family, for all of the reasons discussed above.  However, if you don’t believe us, Martin Lewis, the Money Saving Expert, talks about the same things we have and makes the same recommendation in his article here

Making a will: free or cheap will writing – MoneySavingExpert

I want to make a Will and Power of Attorney – what should I do now?

We hope we have persuaded you that to use a Solicitor to make your Will and Power of Attorney makes sense and is the best way to do it, for both you and your family.  We have included some articles below about making a Will, Power of Attorney and Funeral Plan so that you can read a bit more about it all if you want to.

However, if you would like a free, initial chat with one of our friendly team about making your Will and Power of Attorney and how we can help you, call us on 0161 749 9000 / 07572 373 813 or e-mail us at leech@leech.co.uk and request a call back.

Further reading:

https://leechandco.co.uk/when-make-a-will/

https://leechandco.co.uk/do-i-need-a-will-if-no-home/

https://leechandco.co.uk/wills-only-old-people/

https://leechandco.co.uk/do-i-need-a-power-of-attorney/

https://leechandco.co.uk/funeral-plans-do-i-need-one/

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