What is Lasting Power of Attorney?
Thinking and talking about what would happen if our faculties deserted us is uncomfortable. Yet it's important to consider how much worse the situation would be if you had a stroke, serious accident or dementia (eg, Alzheimer's) without sorting it first.
If someone has difficulties that mean they can't make decisions anymore, they will need help managing their finances Along with their Health and Welfare. A Lasting Power of Attorney (LPA) is a legal document where someone (while they still have mental capacity) nominates a trusted friend or relative to look after their affairs if they lost capacity. The key point to remember...
Don't think you suddenly give up control. You can choose whether it can be used either before, or only when, you lose mental capacity.
Your representative should only ever make a choice for you if you're unable to make that specific decision at the time it needs to be made. For example, if you fall into a coma, your representative would start looking after your affairs. Yet if you wake from the coma, you should be able to make your own decisions again.
It's worth noting LPAs replaced the previous Enduring Power of Attorney (EPA) system. EPAs set up before 1 October 2007 will still be valid, whether or not they have been registered, though they must be registered when the person loses capacity.
Our friendly, professional, expert team can talk you through the benefits of drafting your LPA and help you decide which documents suit your circumstances.
Health and Welfare LPA
your daily routine, for example, washing, dressing, eating
moving into a care home
Property and Finance LPA
managing a bank or building society account
collecting benefits or a pension
selling your home
As a business owner, it’s important to consider what would happen to your business if you were unable to make decisions. Ensuring your business interests are protected will help with:
payment of bills
service a business loan
Let us help you and your family have peace of mind for any possibility the future might bring. Please contact us today for a free hour advisory appointment.
Still have some questions? Why not meet with one of our specialist advisors for further information.
HEALTH & WELFARE
Our existing clients are important to us, our aftercare includes
We appreciate that a Will is not something you or the family wants to deal with until it is needed. We therefore always advise storing it with us so that it will not be lost or damaged and so that we can be there to talk the family through the next steps.
A phone call away
Any questions after signing your new Wills are dealt with as an important factor for us. You can speak to one of our friendly support staff, or your advisor, who are always more than happy to help.
We all know that life circumstances can change all too quickly, therefore, we offer the ability to change your Will as many times as you wish within the first year (*usual charge of £25 admin fee after the first 12 months).