A recent report has urged people who are approaching retirement to ensure that they have Lasting Powers of Attorney in place.
The past few years have seen drastic changes in pension rules meaning that retirees have much more flexibility in how they can use the pension pot they have worked so hard to build up.
However, the Zurich report draws attention to the fact that you can only make the most of that flexibility while you have the mental capacity to do so. If you lose capacity then, unless you have given someone authority to make decisions for you, your ability to make the most of your pension is lost.
A Lasting Power of Attorney for Property & Financial Affairs allows you to appoint people you trust to make decisions for you when you become unable to do so yourself and to assist you if you are struggling to manage. With the help of a solicitor, the forms can be drafted to allow for lots of eventualities and to effectively give the powers you want to give alongside any guidance or restrictions that are important to you.
Nelson Myatt Solicitors can give you help and advice in drafting, completing and registering Lasting Powers of Attorney for Property & Financial Affairs.
The department also offer advice on Lasting Powers of Attorney for Health & Welfare, Court of Protection applications, Wills and Inheritance Tax.
Nelson Myatt LLP
Suite 6, Conwy Business Centre, Junction Way,
LLandundo Junction, LL31 9XX