The loss of a loved one is inevitably a very distressing time.
At a time when all you want to do is come to terms with your loss, you are likely to be faced with myriad formalities and procedures in order that you may deal with your loved one’s affairs. The vast majority of people have little experience in administering an estate and the various processes and procedures can be confusing and daunting. How do you, for instance, settle the deceased’s tax affairs or pay any debts? Do you need to arrange for valuations of the deceased’s assets or apply for a Grant of Probate, track missing beneficiaries or administer ongoing trusts, calculate Inheritance Tax and liaise with H M Revenue and Customs?
A Lasting Power of Attorney is a legal document under which you may appoint someone you trust as your Attorney and whose role it will be to make decisions on your behalf. Attorneys may do so when you no longer wish to or when you lack the mental capacity to do so.