As Christmas rolls round and families are looking at plans to get together, a lot of us are thinking about how to look after both ourselves and our loved ones in later life. Preparing for the future covers many topics and situation, for instance who are your beneficiaries? Who do you want to make decisions for you if you become incapacitated? What sort of medical care do you want or not want? These are all important questions and if not planned for, can make both your own life difficult and that of your loved ones.
Legal Documents you need
Sadly there is no one legal document that covers all of the above. To ensure all those wishes are met, you need three (yes, three) separate documents. Most people know what a Will is, how it works and why they need one, but still 40% of adults in the UK don’t have one. However, a Will only covers what happens to your assets upon death. It doesn’t cover your wishes before you pass if you should become incapacitated. There are two additional documents that cover your wishes BEFORE death if you become unable to make choices on your own.
Lasting Power of Attorney and Living Will (Advanced Decision)
A Lasting Power of Attorney is someone that you appoint to make decisions for you if you are unable to make them for your self. That could be if you are seriously ill, or if you have dementia. These decisions could be regarding financial matters, or about your health and welfare. There are two types LPAs for this reason, Health and Welfare and Property and Finance. Most people combine them and have one over-arching LPA, however you may want to choose two different people for the different aspects of your life.
The LPA is about utilising someone you trust who knows you well. You can obviously discuss your wishes with this person beforehand, however they will be appointed by you to make decisions. This differs to a Living Will, or Advanced Decision, as that is a legal document written by you summarising YOUR wishes, not giving someone else the power to make them for you. These tend to cover more finite situations like the right to refuse treatment, blood transfusions or any religious-based choices.
The Living Will only applies to the specific treatments and scenarios that you have chosen to include, it doesn’t permit anyone else to make decisions on the instances detailed in the document. It could include your choices on refusing specific types of drugs, or palliative care, but most importantly it can provide clarity on your choice to refuse treatment, even if that could lead to your death. Due to the gravity of these decisions, your Living Will will need to be witnessed and we recommend you involve your GP, as they understand your medical history.
Why do you need all three?
Together these documents offer comprehensive protection and ensure your voice is heard when you cannot speak for yourself. One Consultancy Solutions, through OCG Legal, offer a combined service to complete all three at once (this may include updating an existing Will if needed), making it an easy way to achieve peace of mind.
Read more about how this works in practice, our fees and charges and how to go about creating these plans for your future.
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