As you get older you might find you need help dealing with your everyday financial affairs or health decisions.
Lasting Powers of Attorney (LPAs) are legal documents that allow you to choose and authorise someone you trust to make financial and health decisions on your behalf. This could be a friend, relative or other trusted advisor.
There are two types of Lasting Power of Attorney:
Property and financial affairs – which can be used for setting up payments, handling bank affairs or dealing with property transactions. This can be used while you still have mental capacity, which can be useful if you become less mobile or if you travel a lot and are often out of the country.
Health and welfare – ensures your preferences for medical treatment and ongoing care are taken into account and can only used if you lack mental capacity and are unable to make decisions for yourself.
Many people believe that LPAs are only for people who are already struggling to manage their affairs but this is not true. In fact, LPAs can, and really should, be put in place well in advance of this.
If, for some reason, you do lose mental capacity and you do not have an LPA in place it can be a very complicated and costly for your family to deal with these issues. They may need to apply to the Court of Protection for authority to deal with your finances and may not be consulted on your wishes regarding medical treatment and care.
You can trust Poole Alcock to advise you or your relatives on the best way to use this important document to plan for the future.Find Out More
If you would rather focus upon enjoying life now, with peace of mind from knowing that your financial affairs are in order, one of the best ways is to prepare a Lasting Power of Attorney.Find Out More
Please submit your information and a member of the Poole Alcock team will respond to you as soon as possible. If you have a quick question, please feel free to call 0800 389 7093.
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