Should I set up a Lasting Power of Attorney?
Who do you want to take care of your important decisions if you’re no...Back to News and Events
Who do you want to take care of your important decisions if you’re no longer able to? It might be your spouse, your partner, your children, your nephews and nieces or even a close friend. With medical advances allowing people to live longer lives, many of us face the possibility of being reliant on others to make the big, personal and important decisions on our behalf once we are no longer able to do so for ourselves. One of the ways to plan ahead is to appoint that person under a Lasting Power of Attorney.
Someone you trust. It is very important that you have a strong and trusting relationship with the people you want to appoint. Under a Lasting Power of Attorney they would have significant authority over your personal affairs. Do not appoint someone who is putting undue pressure on you to appoint them.
Consider multiple attorneys, or a replacement to step in should your original attorney be unable to act any more.
There is no set age for when an LPA should be set up. If you and your attorneys are over 18 and have mental capacity, it is never too early to set up an LPA. If you are concerned that you may not have the mental capacity to set up an LPA in the near future, it is better to arrange the LPA sooner rather than later.
If you would like your attorneys to start making decisions for you, you should start the process as early as you can. The registration of LPAs usually takes 4-6 weeks, but can take longer.
There are two types of LPA. One allows your attorneys to make decisions about your property and finances. The other allows them to make decisions about your health and welfare. They each have slightly different rules as to when they can be used. You can choose to set up just one type, or both types. It is always entirely your choice.
Whilst you still have the ability to make decisions on your own you can revoke the LPAs at any time. If your circumstances change, or your relationship with an attorney breaks down, you can withdraw the power you have given to them.
For more information, or for an appointment to discuss your LPA requirements, speak to one of our expert solicitors in our Wills and Probate team on 0800 389 7093. Alternatively you can visit our wills and probate services page here or complete the form linked here and we will call you back.