Essex & Suffolk Wills Ltd, 25 The Glade, Welshwood Park, Colchester, Essex. CO4 3JD                                                                                                                                               

Tel: 0845 116 2195    Email:  info@essexandsuffolkwills.co.uk                                                                                                       

 

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Registered in England and Wales Company No: 06740848

Essex & Suffolk

 

Wills Ltd

0845 116 2195  

 

LOSS OF MENTAL CAPACITY

 

People have found that when their loved one has lost mental capacity and not previously made Lasting Powers of Attorney - that dealing with the Court of Protection can be as equally stressful as to the experience of their loved one losing mental capacity.  

 

Did you know…  If you lose mental capacity, you lose the right to make your own decisions about your welfare and financial affairs - and the people closest to you, do not have the right to make decisions on your behalf about your health and welfare or property and financial affairs?  Not even your spouse after 30 years of marriage.

Some of the problems you could face if you lose mental capacity….

 

Financial needs

 

• if you hold a joint bank account with your spouse/partner – that account is likely to be frozen and your spouse will have to apply to the Court of Protection for the funds from it.

 

• if your loved one then applies for power of attorney via a deputyship order the costs are likely to exceed £2,000 plus VAT.

 

• the background of the person applying to the Court of Protection for deputyship will be examined to decide if they are fit to run your affairs.  They will have to fill out a 50-page application.

 

• an annual fee of up to £800 will be charged to supervise the activities of the deputy, whether they are a family member or a professional appointee.

 

• if the applicant’s deputyship order from the Court is rejected and the local authority are appointed to run your affairs – they can charge around £1,000 per year to do so.

 

Welfare needs

 

• if you are taken into a care home your loved ones will not have the right to have a say where you go.

 

• your loved ones will not have the right to have a say in how you are cared for ie your likes and dislikes

 

• if your loved ones feel that you are not being treated in the way that you or they would prefer ie the care home does not offer mental stimulation and you are left to vegetate – your loved ones have no power to move you out of care.

        

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DYING INTESTATE

 

Dying intestate means to die without a will.  If you or a loved one dies without making a will it can cause untold stress all around.  This could also amount to family feuds that go on for years after.  

Did you know…

• You will NOT get to have a say in who inherits your money if there is no will in place and there maybe some beneficiaries more in need than others.
• The administration of the deceased’s estate can take months longer if there is no will in place.  This alone can cause problems especially if funds are needed.
• If you are not married (or in a civil partnership) and are co-habiting with your partner, upon your death your partner will not be entitled to receive anything owned by you.
• If you write a will, you can name guardians otherwise you will not get to have a say in who shall bring up your children or how they are brought up.
• Your spouse could only receive £250,000 if you die without a will - if your estate is much larger, you could be putting your spouse at risk of unnecessary hardship.
• Without a will you cannot protect your disabled loved ones and any benefits that they receive from the Benefits Agency could be stopped and entitlement to Local Authority funding could be stopped. Therefore your loved one's inheritance will be of no real advantage to them.

 

• If you have remarried and your estate is under the value of £250,000 - if you have children from your previous marriage and have not made a will, they will not receive a penny of your estate.
• You can protect your estate against being taken for care home fees if you make a will.
• You cannot avoid your estate from being ill-used by a loved one who is not good with money if you do not make a will.
• You can plan for inheritance tax if you make a will.
• If you have a beneficiary who is well-off, if you write a will and add a trust you can prevent causing them a problem with inheritance tax.
• You cannot leave legacies to grandchildren if you don’t have a will.

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IF YOU ACT NOW - WE CAN HELP PROTECT YOU AND YOUR LOVED ONES FROM TWO DEVASTATING TIMES IN LIFE