Lasting Power of Attorney (LPA) for Property and Financial Affairs, and Health and Welfare, are a sensible precaution to ensure that anyone with assets in their own name has a mechanism in place for those assets to be managed should they become incapacitated in any way.
Whether you’re in a relationship, single, have a business, or just want to know that arrangements are in place for all eventualities it is worth finding out about how LPA can be part of your planning for the future; whatever it holds.
LPA allow the appointed persons to ‘stand in your shoes’, making the decisions that you would have made before being incapacitated. Without LPAs in place, should you become incapacitated, it may be necessary to appoint a ‘Deputy’ to handle your affairs –which can be a long and costly process at a time when time isn’t always in good supply. If it becomes necessary to appoint a Deputy it also means you’ve lost the opportunity to appoint the people you would have wanted to appoint, and give the direction you would have wanted to be in place to direct how you wish your affairs to be managed.
For business owners and those with extensive assets, making LPAs, like making Wills and perhaps taking out life insurance, should be part of your arrangements to ensure that those who depend on you aren’t left with a traumatic and costly situation to deal with if you’re taken out of action unexpectedly.
We can guide you through the procedures to implement LPAs, allowing you to move on with your life in the knowledge that your financial affairs and health concerns are in good hands.