FINANCIALFUTURE

only be exercised with your permission, or if you are unable to act for yourself.

“If you and your family are faced with a medical emergency, having a Power of Attorney can be a life-saving document. If you’re in hospital, no one can make decisions for you if you can’t make them for yourself unless you have a Power of Attorney.

“And sometimes doctors won’t administer treatment or medication or carry out an operation if there’s any risk to you, even if your spouse or children wish them to do so. There’s a common misperception that ‘next of kin’ has the same official standing, but this is not the case.”

It is not only in matters relating to dementia or Alzheimers where a valid Power of Attorney can prove so significant.

“Recently, a client’s daughter was on the phone to 101 because her mother had a urinary infection,” explained Tony.

“After two hours of waiting to speak to someone, she was told that unless her mother came to the phone, it would not be possible to discuss the case or her medical history - unless there was a PoA in place.

“Her mother was in such significant pain she could not move and get to the phone, but because she had taken out a PoA with us six months earlier, the daughter was able to deal with all and ultimately ended up collecting a prescription for her mother that very same day.

“That’s not the sort of incapacity you generally think about, but it’s a real-life situation that does happen, so everyone should have a PoA in place.”

While PoA offers significant legal protection, Tony also advises that a valid Will is taken out - along with other provisions - to fully ensure your assets including property and savings - are protected.

““A Will is a good start,” explained Tony. “But you should look at the legal ways of protecting your home via trusts or titles - a route that thousands of our clients have now gone down.

“Lots of people put off writing a Will because they think it’s complicated, but we make it a simple and inexpensive process at £48.

“The coronavirus has shown us how uncertain life can be. Now is the perfect time to set out your wishes for the future.

“If you own a property, you should 100 per cent have a Will. Most people think that when you die, all your assets will automatically go to your next of kin, but that’s not the case.

“Nowadays, there are many blended families, and a Will makes sure your estate goes to the people you want it to go to,” said Tony.

“But even if you’ve been with your spouse since high school and there are no children from previous marriages, if you don’t have a Will in place, it will take a lot of time, money and hassle to settle your estate.

“Should you end your days in care, the Government will attack all your assets, including your home.

“Although you cannot be seen to be deliberately depriving the local authority of care fees, with proper planning, this need not be the case as there are ways to protect the family home for the next generation.

“This can be done through transferring the title of your home, or through lifetime trusts, also known as property protection trusts or asset protection trusts.”

Power of Attorney can easily be set up over the phone, online or by booking an appointment in an ILAWS office. Bookings can be made now on Freefone 0800 049 9688.

All pictures posed by models