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The Importance of Power of Attorney for the Over-50s: Why OLS Solicitors are Your Go-To Firm

By Lara Davies on November 7, 2023

The Importance of Power of Attorney for the Over-50s: Why OLS Solicitors is Your Go-To Firm

As we navigate the journey of life, certain milestones require our attention, preparation, and thoughtful decision-making. One such milestone, often overlooked until necessity dictates, is the establishment of a Power of Attorney (POA). For individuals over 50, this is not just a matter of foresight but of practical wisdom. In this article, we’ll explore the compelling reasons for taking this step and introduce you to OLS Solicitors, a firm that combines expertise with cost-effective solutions.

Understanding the Power of Attorney

Power of Attorney is a legal instrument that allows one person to make decisions on behalf of another – decisions that are as crucial in times of sound health as they are when health falters. The individual who grants the authority is known as the ‘donor’, while the person who receives it is the ‘attorney’. There are different types of POA, each with its own scope and duration, such as Health and Welfare POA, Property and Financial Affairs POA, and Lasting Power of Attorney (LPA) which remains valid even if the donor loses mental capacity.

Why the Over-50s Should Consider POA

1. Proactive Health Management

As we age, the likelihood of health-related issues increases. A Health and Welfare POA ensures that your medical care and daily routine can be managed according to your wishes, should you become unable to express them.

2. Financial Security

A Property and Financial Affairs POA safeguards your financial assets, ensuring that bills, investments, and property management are handled responsibly if you’re not in a position to do so yourself.

3. Peace of Mind

Setting up a POA offers peace of mind, not just for you, but also for your family. It clarifies your intentions and provides a clear legal framework for your care and the management of your estate.

4. Avoiding Legal Complications

Without a POA, if you become incapacitated, your loved ones may face lengthy and costly legal proceedings to obtain the authority to manage your affairs.

5. Tailoring to Your Needs

POAs can be as broad or as specific as required, giving you the flexibility to tailor the powers granted to your unique circumstances.

Why Choose OLS Solicitors?

OLS Solicitors is a firm that understands the nuances of POA and the importance of this service for those over 50. Their team of experts is adept at navigating the complexities of POA legislation, ensuring that your best interests are captured and legally protected. Here’s why they stand out:

1. Expertise

Their solicitors have a wealth of experience in drafting POAs that are robust, clear, and legally sound.

2. Transparency

With a clear fee structure of £350 plus VAT for each type of POA, OLS Solicitors provides a service that is both accessible and transparent.

3. Personalised Service

They offer a tailored service, listening to your needs and providing guidance that respects your wishes and circumstances.

4. Accessibility

Their approachable team is ready to answer your questions and guide you through the process with empathy and understanding.

5. Peace of Mind

The firm’s reputation for excellence ensures that your POA is in safe hands, granting you and your family the peace of mind you deserve.

Taking the Next Steps

For those over 50, the time to consider a Power of Attorney is now. It is a cornerstone of planning for the future, ensuring that your wishes are honoured and your affairs are in order. OLS Solicitors offers not just legal expertise but a commitment to making the process as straightforward and stress-free as possible.

Should you wish to discuss your Power of Attorney needs or have any questions about the process, OLS Solicitors is at your service. Remember, it’s not just about preparing for the unexpected; it’s about ensuring the dignity and control over your life that you deserve.

Disclaimer: The information provided in this article is for general informational purposes only and should not be considered as legal advice. Please consult with a solicitor for advice specific to your situation.

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Author

Lara Davies

Lara is our Head of Legal Practice and a director. She advises on complex financial remedy proceedings, private child disputes, and Inheritance Act cases. She also has a keen interest in protecting vulnerable clients, particularly those who have experienced forms of domestic violence in their relationships. Lara has often represented fathers in private child proceedings and has a unique understanding of the challenges faced by them. Lara is keen horsewoman, and has spent her life competing in national and regional level dressage competitions with success. She is also a keen runner, and has completed Marathons, Half-Marathons and mountain races – she is now building up to her first ultra-marathon. Lara loves being outside in the mountains; her favourite place is the Scottish Highlands where she can be found a few times a year with her other half and their Pug in their campervan. She is slowly making her way through climbing each of the Scottish Munros and high peaks of England and Wales. Lara is a Welsh speaker.