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What happens if you are no longer capable of handling your own affairs?

If you do not have the mental capacity to look after your own affairs and you have not previously requested the appropriate Lasting Power of Attorney (LPA) to cover this eventuality. The Court of Protection will appoint a Deputy to manage your affairs for you. This service is time consuming and expensive.

There will be significant legal fees in setting up this procedure plus additional supervision and annual fees to administer the order. Within the first three years alone, this could amount to more than five thousand pounds.

In addition to this, it is highly probable that the Deputy may not be aware of your personal needs and requirements. Furthermore, with time delays in preparing and establishing the Deputy Court Order, your needs and requirements cannot be guaranteed to be met at the time when you need it most.

Simple tasks such as, claiming benefits, and tax affairs.  Bank and Building Society accounts will remain dormant. The British Bankers Association have confirmed 'Joint Bank Accounts' will be frozen if one of the account holders lacks mental capacity and has not registered a Lasting Power of Attorney or EPA. It will not be possible for you to complete property transactions, (this includes property which is jointly owned). The consequences of not having a Power of Attorney could be devastating. With regard to business owners or directors this could be catastrophic.  

This situation could happen to anyone at any time in his or her life. There are all sorts of reasons for people to loose mental capacity. It is naive to consider this will not happen to you. We simply do not know. The NHS estimate over 2,000.000 people lack mental capacity. This includes brain injuries, mental health difficulties, dementia etc.