A Lasting Power 0f Attorney (LPA) is a legal document that allows you to appoint another person or people to make decisions on your behalf during your lifetime should you suffer a loss of capacity.
Why you should make an LPA now
The possibility of losing mental capacity is a subject which can cause distress and is often understandably avoided. However we all need to recognise that accidents , stokes or degenerative conditions such as Alzheimer’s can strike at any time and at any age. For your own peace of mind and for the sake of those nearest and dearest to you making an LPA now is your best safeguard against unforeseen circumstances.
The Benefits of having an LPA in place
- Knowing that if you become unable to make decisions for yourself that the person you have personally chosen will be making decisions for you.
- Having an LPA will make things easier for your family and friends in future. Without it obtaining authority to act is complicated, expensive and time consuming
- Making an LPA can result in positive conversations with your family or others about what you want to happen in future.
There are two types of LPA – Property and Financial Afffairs and Health and Welfare
Property and Financial Afffairs LPA
This LPA relates directly to your financial affairs and property. It can be used by your nominated attorneys whilst you are still of sound mind or have become incapacitated in some way.
Your attorney for Property and Financial Affairs can on your behalf :
- Buy or sell property
- Pay your mortgage, rent and household expenses
- Insure, maintain and repair your property
- Manage your financial assets, savings, bank and investments
- Manage your business interests
- Claim welfare benefits and receive income for you
- Manage your tax affairs
Health and Welfare LPA
A Health and Welfare LPA can only take effect if you no longer have the mental capacity to deal with your affairs. Your nominated attorney(s) can, on your behalf :
- Make decisions on your place of residence and daily care needs.
- Arrange necessary medical, dental and optical treatment for you.
- Permit access to your personal information
- Consent or decline medical treatment in your interests
- Make decisions on your diet and clothing
This LPA also offers you the right to grant your appointed attorney(s) the power to make decisions on accepting or declining life sustaining treatment.
Peace of mind
Having these lasting Powers of Attorney in place and registered with the office of the Public Guardian prior to loss of capacity means that a person or people you trust to look after you will be able to control your finances and make decisions about your medical treatment and general welfare,
The absence of an LPA however will inevitably add stress to a difficult situation. Your family does not automatically have legal authority to deal with your financial affairs should you become incapacitated. This means that no one will be able to access or deal with your bank, savings, investments, pensions, tax, property, bills or loans. If no LPA is in place your family has to make an application to the Court of Protection in order for a “Deputy” to be appointed. This process is complex and time consuming and could result in you and your family having no control over the management of your affairs.
Taking out and registering an LPA is an effective form of insurance against the risks of losing capacity and will ensure peace of mind for both you and your family
Act now with Kingfisher Wills and your LPA will safeguard you and your loved ones against life’s uncertainties
Want to know more……..get in touch today
Contact me Graham Davies for a no obligation discussion as to how I may help you 01743 213539