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| ENDURING
POWERS OF ATTORNEY |
One of the major concerns for us all as we get older is
who is going to look after our finances and our property if we are no longer able to do
so. One of the best ways forward is to make an Enduring Power of Attorney in favour of
some one you can trust to look after you and your needs.
WHAT IS AN ENDURING POWER OF ATTORNEY?
An Enduring Power of Attorney is a document that authorises a person of your choice
("your attorney") to act on your behalf in all financial matters. This means
that it enables your attorney to sign cheques from your account, withdraw money, pay
bills, collect your pension and sell and buy property. The Enduring Power of Attorney can
give your attorney complete authority over all your affairs or it can be limited to deal
with only part of your assets i.e. to sell your house. An Enduring Power of Attorney can
be prepared well in advance to cover any sudden loss of capacity.
WHAT HAPPENS IF I LOSE MENTAL CAPACITY AND DO NOT HAVE A POWER OF ATTORNEY?
If you do not have an Enduring Power of Attorney your assets are basically frozen, as
no-one will be able to access your accounts nor sell your property. Your next of kin will
therefore have to apply to the Public Trust Office for a Court of Protection Order so that
they can be appointed Receiver over your affairs. This process can often be lengthy and
certainly more costly. It is important to note that a husband cannot access his wife's
accounts and vice versa.
WHO CAN BE AN ATTORNEY?
An Attorney must be aged 18 or over and cannot be bankrupt. Otherwise it can be anyone you
wish to choose; your spouse/children or other members of your family or a professional
person such as a solicitor who will be able to help family members with more complex
matters.
HOW MANY ATTORNIES DO I NEED?
There is no limit. However, it is not practical to have too many. We suggest that you
appoint two attorneys just in case one dies or is unable to act for any reason. You can
appoint the attorneys to act jointly or jointly and severally. By appointing them to act
jointly both attorneys will need to sign everything i.e. two signatures will be required
on cheques etc. This is therefore not always convenient if the attorneys live in different
parts of the country. By appointing them to act jointly and severally only one signature
is required. This is always the best way to proceed if for example you appoint your
children and one lives locally. That child can deal with your affairs and the other one
can step in as and when necessary.
WHAT HAPPENS IF I DO NOT HAVE ANYONE TO APPOINT?
Your solicitor can take on the role of your attorney. In fact it is always advantageous to
appoint a firm of solicitors where no-one in the family lives locally, or your relatives
are all elderly or if there are difficulties or disputes in the family - or just simply to
assist with the complexities!
WHAT HAPPENS IF I LOSE MENTAL CAPACITY?
Your Attorney will have to register the document with the Public Trust Office and he or
she will then be able to continue to act under the Court's supervision. The average cost
of making an Enduring Power of Attorney ranges from approximately £50 to £100 plus
v.a.t. compared to the average cost of a Court of Protection Order of £2,000 plus ongoing
fees to the Court.
Any questions? Contact Susan Dawe or Sam Whatley on 823398. Whatley Smith
& Co. Solicitors 1 Augusta Street, Sheringham. |
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| BROADBAND
UPDATE |
Great news for anyone that needs broadband in Sheringham, Beeston Regis, Upper Sheringham
and West Beckham! From the 11th of February next year you can have it!
If you have a single PC and are planning to move to broadband, you should make sure you
have a firewall to protect the information on your PC from being visible across the
Internet. The Microsoft XP operating system has a firewall built in but you need to make
sure it is turned on. It's not perfect but it's a lot better than nothing.
If you have an earlier version of Microsoft Windows and need a simple firewall, you might
wish to consider downloading a software firewall call ZoneAlarm. The web address is
http://www.zonealarm.co.uk. This is a useful web site to look at in terms how a firewall
protects the information on your PC. If you use the computer for home and personal use the
software is available on a free download.
If you need advice or help on broadband issues then local broadband service provider
Paston Chase will be pleased to answer any queries you may have. You can contact them on
01603 502061 or support@paston.co.uk.
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If the police arrest a Mime Artist, do they tell him
he has the right to remain silent?
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