Lasting Powers of Attorney
Who looks after the affairs of a person suffering from mental incapacity?
Lasting powers of attorney were introduced in England and Wales in October 2007. They permit a donor to confer power to deal with the donor's financial affairs (a "property and finances" power), or their health and care (a "health and welfare" power). The documents have a standard format, but they are lengthy, and granting a lasting power of attorney requires registration with the court. An English lasting power of attorney is unlikely to be accepted in the Isle of Man, so it is sensible to make separate arrangements there.
The Isle of Man has yet to change the law to give lasting powers of attorney a statutory basis, although moves are afoot to introduce lasting powers of attorney there too. In the meantime, to avoid the rather more ponderous process of applying for appointment as the receiver of an incapable person, and the attendant ongoing formalities, enduring powers of attorney can be used to confer powers of financial and property management on up to four chosen attorneys. The process is a lot simpler than granting a lasting power of attorney, and there is a good argument for granting enduring powers of attorney while they are still available. Enduring powers of attorney granted before the introduction of lasting powers of attorney are likely to remain fully valid.
One disadvantage of enduring powers of attorney is the inability to deal with health and care. When lasting powers of attorney are introduced under Manx law, nominated others will be able to make to medical and welfare decisions on an individual's behalf. Any decision made by an attorney will still have to be in the best interests of the person granting the lasting power. It will be critical that wishes, concerns, and feelings are fully recorded. This will enable an attorney to make a decision that aligns with both with the donor's wishes and circumstances.
Such change is to be welcomed. However, all change comes at a cost, and it will require legal professionals, and possibly medical practitioners, to be more involved in the more complex process of creating powers of attorney.
How we can help
Please contact us if you need further guidance about the use of powers of attorney, or the management of the affairs of elderly, vulnerable, or disabled persons. Please contact:
John Rimmer jr@advocatejr.com
Hollie Ranscombe hr@advocatejr.com
Ilsa Reeves ir@advocatejr.com
Tel: +44 (0)1624 621466 Address: Fort Anne, South Quay, Douglas, Isle of Man, IM1 5DP