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What is a Lasting Power of Attorney (LPA) for… and why should I have one?

Incapacity could be classed as a fate worse than death. Being unable to manage our own affairs either because you can?t get out, or you?re unlucky enough to suffer from a mental illness like Alzheimer?s is more common than any of us want to admit. With an ever ageing population, being diagnosed with any illness is a warning sign to put plans in place, especially if your condition is likely to deteriorate.?

The over-riding reason to do this is exactly the same reason as putting a Will in place ? making life easier for those left to sort it all out. Be without and your closest family and friends will have a big problem to get on top of handling your affairs ? remember you haven?t died yet, so you?ll be as much a problem to them, as well as them managing your money, and your health and welfare.?

A Lasting Power of Attorney allows you to decide now who your Attorneys will be, people you trust, and these chosen individuals will act for you when you cannot. This is a very powerful document, there are built-in safeguards for your peace of mind and because we?re all different, you may want to stipulate restrictions and conditions on how your Attorneys can act for you, it is your choice.?

Two types of LPA exist. Most people lean towards the ?Property & Financial Affairs? one for obvious reasons. Whatever you do, don?t under estimate the usefulness of the ?Health & Welfare? LPA because having both will put the people you want, in charge 100%. Having one is better than none, but is effectively restricting the Attorney?s effectiveness, and I doubt this would have been your intention when you only set the one up. Ask us to quote you, we are not expensive, Contact Us now.

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