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Support Managing Your Affairs

the melton building society

If you were no longer able to make decisions for yourself because of an accident or an illness such as a stroke or dementia, who would act on your behalf to carry out your personal and financial affairs?

You may need to sell your house so you could move somewhere more accessible? Your partner or children may need to access your bank accounts and investments to pay for your care or deal with other day-to-day financial matters?

This situation can become complicated and time-consuming, making an already awful situation for your family worse. People often assume that a partner or child automatically takes over responsibility for their affairs if they are no longer able to manage.

That is not the case. Your assets could be frozen and may be managed by the Court of Protection.

 

Lasting Power of Attorney (LPA)

You can set up a lasting power of attorney at any time not just when making a Will. A lasting power of attorney allows you to nominate one or more attorneys, normally the spouse or partner, children, friends or a professional, to look after your affairs if you are unable, or unwilling, to do so yourself.

There are two types of LPA:

 

Property and Financial Affairs LPA

This covers decisions affecting your bank accounts, investments, bill payments, pensions, and other assets, such as:

  • How your finances and property are managed
  • How your bills would be paid if you were unable to do this, i.e. physically incapacitated or out of the country for long periods of time
  • How your assets would be dealt with, i.e. selling your house to move to residential care

 

Health and Welfare LPA

This applies to decisions around your medical and care needs as well as where you may live if you were to move into a care home. It includes:

  • Giving or refusing consent to particular types of health care, including medical treatment decisions
  • Deciding whether you continue to live in your own home or whether residential care would be more appropriate for you.

By putting LPAs in place, you can be assured that your assets, medical treatment, living arrangements and day-to-day life will be taken care of by someone of your choice, acting in your best interests.

 

Registering a Power of Attorney (POA)

You can register a power of Attorney with the society to enable the management of existing accounts as well as the opening of new accounts.

To register a Power of Attorney we will require the following:

  • Sight of the original Power of Attorney or a certified copy* (For LPAs registered in England and Wales on or after 1 January 2016 and If you have an LPAaccess code, we can now accept this to view your documents online and there will be no requirement for you to provide a paper copy.)
  • Identification for all Attorneys.

Power of Attorneys can also be added to online accounts when the POA has been registered with the Office of the Public Guardian.

Please visit one of our branches or you can call us on 01664 414141 to discuss your individual needs, where we will be happy to help.

 

Need more Information?

Alternatively, to make an appointment, simply pop into your local branch or call the Melton on 01664 414141.

*Photocopy documents can be certified by an appropriate person such as a solicitor, accountant, doctor or through the Post offices Document Certification Service (a fee may apply for these services)

 

Get In Touch

Call one of our friendly advisors on 01664 414141. Opening hours 9am to 6pm Monday to Friday and 9am to 12pm on Saturdays.


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Following the Bank of England Base Rate increase from the 5th May we are reviewing our product rates.

Please also bear with us as our telephones lines will be busier as we help our customers