A Lasting Power of Attorney (LPA) gives your loved ones the ability to take care of you and your finances if you become unable to do so yourself. If you lose mental capacity and you do not have an LPA in place, your family would need to apply to the Court of Protection to have a deputy appointed to deal with everyday financial matters. This is a slow and expensive process which can be avoided.
There are two types of LPA:
A Property and Financial Affairs LPA allows your Attorney (the trusted person you appoint) to deal with financial decisions such as paying bills, buying and selling property and managing bank accounts and investments on your behalf. This LPA can be used (with your permission) when you still have capacity to make those decisions but are perhaps not available to do so.
A Health and Welfare LPA allows your Attorney to make decisions about your health and care, including life sustaining treatment decisions. This LPA can only be used once you no longer have the capacity to make those decisions yourself.
Should you require any advice regarding LPA’s, or any assistance in having them created, please feel free to contact us and we will make an appointment to visit you in the comfort of your own home.