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Power Of Attorney
It is common knowledge that we should all have a Will in place, but too few of us know that we should consider a document known as Lasting Power of Attorney. An LPA enables persons of your choice to make decisions on your behalf should you lose capacity. Please get in touch to speak to one of our consultants and see how an LPA can benefit you and your loved ones.
There are two different types of LPA's, and we offer both to our clients...
- A "Property & Financial Affairs" LPA gives your Attorney(s) the authority to deal with buying and selling your property, your bills, bank accounts and investments.
- A "Health & Welfare" LPA covers decisions about health and care, even deciding where someone lives. This can only be used if someone is incapable of dealing with such matters themselves.
Lasting Power of Attorney
(commonly known as LPA)
A document made and signed by the Donor (the person making the LPA) empowering his/her Attorneys to take charge of the Donor`s welfare, property and affairs, in the event of the Donor becoming incapacitated.
An LPA allows your loved ones to take care of you and your finances if you become unable to do so yourself. It also ensures that should you be unable to manage your own affairs, the people you have appointed can manage your financial affairs on your behalf. This can save a great deal of money and distress, and ensures that as a vulnerable person your affairs will be handled promptly and correctly by someone you trust.
According to the Alzheimer's society, 1 in 6 people over the age of 80 currently suffer with Dementia. Although, accidents, strokes, brain injuries & Parkinson's disease can also affect a person's ability to make their own decisions, meaning if you suffer with any of these, handling your financial affairs can become virtually impossible.
If you lose mental capacity without an LPA in place, it will be necessary for your family to apply to The Court of Protection to have a Deputy appointed to deal with everyday financial matters. This can be a slow and expensive process; there is no guarantee your family will be appointed, resulting in decisions being made that are potentially against your wishes.