What are Lasting Powers of Attorney?
Lasting Powers of Attorney (often referred to as LPAs) are legal documents that allow you to appoint the people you trust to make decisions on your behalf in relation to health and welfare and property and finances.
Why is it important to have LPAs?
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Lasting Powers of Attorney ensure that if you were to lose capacity in the future, or become unable to manage your own affairs, the people you trust are able to assist you at this time.
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Within the documents, you can include specific instructions and preferences, to ensure that your wishes are legally documented. It is important to get LPAs in place to give you peace of mind, to know that once they have been registered, they can be used when required.
What are the risks of not having LPAs?
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Without having LPAs in place, you are not able to control who makes decisions on your behalf, if you are not capable of making them yourself.
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If you do not have LPAs in place, this could make it difficult for your family to manage your finances and healthcare.
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If you lose mental capacity and do not have an LPA for property and finance in place, your family would have to apply to the Court of Protection to become your deputy, which can be a very lengthy and expensive process, delaying urgent decisions about your property and finances.
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If you lose mental capacity and don’t have an LPA for health and welfare in place, any decisions about your health or care will be made by the care professionals looking after you. If appropriate, they must consult your family (or anyone else with an interest in your welfare) when deciding what is in your best interests – but the final decision lies with them.
How can we assist you?
At Bennett Oakley, we advise you and deal with the drafting, signing, and registration of your Lasting Powers of Attorney. We will essentially deal with the full process for you, providing expert advice and ensuring you are aware of all options available to you.
Our aim is to ensure that your wishes are met and that you are confident about the management of your affairs at present and later in life.
For more information regarding LPAs, please don't hesitate to contact our Private Client team today.
