The Importance of Choosing the Right Person for Your Lasting Power of Attorney

When it comes to planning for the future, one of the most important steps you can take is to set up a Lasting Power of Attorney (LPA). An LPA allows you to appoint someone you trust to make decisions on your behalf if you become unable to do so yourself. This could involve financial or healthcare decisions and choosing the right person for the role is crucial. The right attorney can protect you from potential fraud, disputes, and ensure that your best interests are upheld when you need it most.

Trust is Key

The most crucial factor when selecting your attorney is trust. You are giving this person authority to make significant decisions in your life, from managing your finances to overseeing your health care. Therefore, you need to choose someone who understands your wishes and has your best interests at heart. Ideally, this is someone who knows you well, whether it is a family member, close friend, or even a professional advisor.

Preventing Fraud and Disputes

Following on from the ‘Willpower Detectives – The hidden scandal of Power of Attorney’ series which you may have seen or read about, there have been recent tragic cases highlighted in the news where family members have exploited their positions as an attorney. A recent article by BBC News highlights just one example: https://www.bbc.co.uk/news/articles/clynk99d4d3o

Unfortunately, the power granted by an LPA can be exploited by someone with dishonest intentions. That is why it is essential to appoint someone who will act with integrity and transparency. The wrong person can lead to financial abuse or manipulation, causing emotional and financial harm.
Moreover, appointing someone who you trust to keep open lines of communication can also help prevent disputes among family members. Clear communication about your wishes can reduce misunderstandings and potential conflict, ensuring your instructions are followed when you are no longer able to make decisions for yourself.

Red Flags

It is essential to be aware of potential red flags that could indicate someone is being taken advantage of or exploited by their attorney.
Here are key warning signs to watch out for:
1: Sudden, unexplained financial changes 
2: Isolation from family or friends 
3: Pressure to make or change decision e.g., a pre-existing Will 
4: Unusual gifts or benefits to the attorney 
5: Lack of transparency or accountability 
6: A sudden change in individual’s preferences or behaviour 
7: Refusal to allow others to review or challenge decisions
8: Physical or emotional signs of distress 
9: Unusual legal documents or changes to estate plans

 Conclusion

Choosing the right person as your attorney for a Lasting Power of Attorney is not a decision to be taken lightly. It requires careful consideration of who you trust, who is capable of managing the responsibility, and who can protect you from fraud and disputes. Taking the time to choose the right person now can offer peace of mind, knowing your affairs will be safe should you need assistance in the future.

If you are concerned about appointed attorneys or you have a dispute with an appointed attorney, please contact Marie O’Malley on 01926 354704 or email: MarieO@moore-tibbits.co.uk