Lasting Powers of attorney
What is a Lasting Power of Attorney?
A Lasting Power of Attorney (LPA) is a legal document that lets you (the donor) appoint one or more people (the attorneys) to look after specific aspects of your financial affairs or health and welfare should you be unable to manage.
This can be because of losing capacity (in the event of dementia or a stroke, for example) or in circumstances that are not permanent. For example, if you have a car accident or operation and your recovery time impairs you. In the cases of incapacity not being permanent you can take back control once you have recovered.
|There are 2 types of LPA:
You can choose to make one type or both.
Who can have an LPA?
One misconception about LPAs is that they are just for the elderly. Not at all! Anyone has the risk of becoming incapacitated through accident or unexpected illness. If you do not have an LPA in place and later become mentally incapacitated, relatives may face long delays and expense in applying to the court of protection to get access and take control of your assets and finances. LPAs are designed to be recognised by financial institutions, care homes and local authorities, as well as tax, benefits and pension authorities. They are legal documents and many of our clients set one up when they are writing or reviewing their Will.
How can we help?
To set up a no obligation meeting to discuss setting up an LPA please get in touch.