We never know what is around the corner or what challenges will be thrown at us.
Many people plan for the future by writing a Will, but a Will only comes into effect on death. The great benefit of an LPA is that you make the choices. If you want decisions about your property, finance and health to be made by a trusted friend or family member of your choice then you should make an LPA.
By making an LPA you have the comfort of knowing that the person or people you want to help you are able to do so in as straightforward a way as possible and the Attorney you appoint have a powerful tool to enable them to cut through bureaucracy and have their voice heard on your behalf.
If you have business interests it is possible to make a separate LPA specifically relating to those interests.
We particularly recommend you make an LPA if you have been diagnosed with, or think you might develop, an illness that might prevent you from making decisions for yourself at some time in the future.
The types of illness that might prevent you from making decisions for yourself include:
Remember you must make an LPA whilst you are still capable of making decisions for yourself. This is called having mental capacity
86% of people would want their family or friend to make decisions on their behalf in the event that they became too ill to make decisions for themselves. Yet only 12% have an LPA in place.
If there is no LPA in place when you lost capacity, your assets will freeze, which might cause difficulty or distress to you and those trying to help you. Some assets will become inaccessible should you lose capacity for example, joint bank accounts can be frozen once the bank becomes aware that one party has lost capacity. Similarly there can be problems in the sale of a jointly owned property.
A Property and Finance LPA can be used at any time, even if you have capacity, with your authority.
People regularly use Property and Finance LPAs in the following circumstances
Please contact us using the form below if you have any questions regarding Lasting Power of Attorneys, we will aim to contact you within 48 hours.
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