Kate Garraway’s Financial Worries Show Why Everyone Should Have A Lasting Power of Attorney

Kate Garraway’s husband has unfortunately been in a coma in hospital for a number of months, as a result of catching the Coronavirus. The TV personality has recently explained that she has huge problems dealing with her finances, partly because her husband generally dealt with them and that she doesn’t have access to many of the things she needs.

It’s a perfect example of why couples should ensure that they both have a Lasting Power of Attorney, so that they can manage their business and health and welfare decisions should one partner fall ill or become incacapacitated.

Kate’s husband Derek caught coronavirus back in March 2020. He is still in hospital. The couple have two children and Kate has been left dealing with all the finances and insurance policies. She has admitted she is struggling because most of them are in Derek’s name. Speaking on Good Morning Britain she said:

“One of the practical problems – which a lot of people would’ve experienced if they’ve got the absence of someone in their life – like many things, the car is entirely in Derek’s name, the insurance is in Derek’s name, a lot of our bank accounts. There’s a lot making life very complicated because I can’t get access to things. Because legally I haven’t got power of attorney.”

Many people have suddenly realised during lockdown that getting their affairs in order is a good thing to do. In particular, many couples at risk of Covid-19 and its complications have organised wills.

Whilst people have been using the time in lockdown to get their affairs in order by creating Wills, it’s just as important, if not more so, to organise Powers of Attorney. This is becuase a Power of Attorney is actually something that is used before you pass away. It affects your life here and now. And of course, it is only used if it has to be, so there are no drawbacks organising one just in case.

Hopefully, Kate Garraway’s situation will help publicise that Power of Attorney is an important legal tool to have. They are not just for elderly relatives, they are for anyone who is organised and believes in preparing for unpredictable situations.

Find out more about Power of Attorney here

Seven Reasons for A Power of Attorney

 

 

Published on 12/11/2020

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