If you co-own your residential Property with someone who loses their mental capacity to make decisions, this can cause serious and expensive problems. If the house needs to either be sold or significantly adapted to cater for such an illness, without Lasting Power of Attorney (LPA) already in place, there will inevitably be significant delay and expense in obtaining permission to act through a legal court process, without any guarantee that the required sale or changes can ever take place.
However, if you ensure that the Lasting Power of Attorney is arranged whilst you both retain your mental capacity, should either person subsequently lose this, the resulting necessary sale or changes can be made without delay or further cost.
Please refer to our Lasting Power of Attorney page for further details.
TRF Wills (TRF) was created by Michael Cotterill in 2005. He is a member of the Society of Will Writers and registered with the Information Commissioner’s Office.