The Importance of Lasting Power of Attorney (LPOA)
Many people know the importance of making a Will but, whilst a Will directs how your affairs are to be handled following death, it is also vitally important to consider who has the responsibility to make decisions for you whilst you are alive but unable to do so for yourself.
A lasting power of attorney (LPOA) is a legal document that allows you to appoint one or more people (who will then be known as Attorneys) to help you make decisions or make decisions on your behalf if you have lost mental capacity. The Attorneys could be a trusted friend or relative. Making arrangements for Power of Attorney can avoid relatives having to apply for a deputyship from the Court of Protection which can be expensive and onerous.
There are two types of Lasting Powers of Attorney. A Property and Financial Affairs LPOA covers decisions about your finances, which could range from the selling of your house to simply paying your bills and collecting your income. A Health & Welfare LPOA covers decisions relating to your day to day care. You can choose to make one type or both. These arrangements can take the strain of making decisions from those suffering from degenerative conditions, into the hands of those they trust.
If you would like further advice regarding making a LPOA then please do contact the office to arrange a mutually convenient appointment with one of our highly qualified advisers at our cost.