Do you have power of attorney set up?

WHAT TO SAY Nobody likes to think about what would happen if at some point they lack the mental capacity to make their own decisions, so this is one of the trickiest conversations. Setting up your own lasting power of attorney and asking if they’d like you to look at theirs at the same time is one option – or mention friends who have been down this route to start the conversation. WHY IT’S IMPORTANT It’s not easy to manage someone else’s finances without legal power, even speaking on their behalf to utility providers requires authority. A lasting power of attorney (LPA) is the official document giving trusted family or friends the right to act on your behalf if you’re seriously ill. There are two types of LPA: one for money and property and one for healthcare. If it’s too late for an LPA, you’ll need to apply to the Court of Protection to become a ‘deputy’, which allows you to act on someone’s behalf (£400). Visit gov.uk for more details. HOW TO DO IT An LPA is a big step and must be set up before it’s needed, as it’s much harder and expensive to do after the event. Download the forms at gov.uk/power-of-attorney; it’s a good idea to arrange one through a solicitor (around £300) as they are complicated. Each signed LPA must be registered with the Office of the Public Guardian (gov. uk/government/organisations/ office-of-the-public-guardian) before it can be used and costs £82.