Lasting Powers of Attorney: Are you prepared to lose mental capacity?

The recent high-profile ITV documentary ‘Kate Garraway: Finding Derek’ highlighted the severe issue of losing mental capacity.

This documentary is about Kate’s struggle to support her Husband Derek, in a year-long battle with Covid-19, has been only complicated by the lack of legal protections.

Kate has been unable to manage her husband’s care or manage his finances. She did not even have the right to see his medical information.

But what happens when you or a loved one loses mental capacity, and you can’t make financial or healthcare decisions on their behalf?

There is an effective legal tool available, the Lasting Power of Attorney, that can prevent a great deal of stress and cost at what is already a challenging time.

My guest on the podcast today is Emily Taylor, Partner at BDB Pitmans.

Emily specialises in tax planning, trusts, estate administration and drafting of wills and powers of attorney.

She has a wealth of experience dealing with a wide range of private client matters in particular high net worth estates including those with foreign property.

She also deals with Court of Protection matters and is a Court Appointed Deputy with clients all over the UK.

In this conversation, Emily explains how a Lasting Power of Attorney works, why we are thinking more about this legal instrument in light of Covid, and the practical steps to follow when putting your LPA in place.

Here’s my conversation with Emily Taylor, Partner of BDB Pitmans, in episode 554 of Informed Choice Radio.