A Lasting Power of Attorney is often referred to as an LPA. It’s a document that you register with the court and it allows you to appoint somebody else, importantly somebody that you trust, to manage your affairs for you.
There are two kinds, one is for property and finance and one is for health and
Once you’ve decided that you want to make a Lasting Power of Attorney it is best to consult a solicitor.
We can offer you advice on your finances, complex family arrangements and we can make sure that they are done professionally.
We are highly trained, we are regulated and we are backed by indemnity insurance.
It is very simple to download a form and fill in the wrong box with catastrophic results. That’s why we suggest that you come to us, we will offer you an hour appointment, or we can come and see you at home on a home visit if that would make you feel more comfortable.
We suggest that you do a Lasting Power of Attorney as soon as possible, you need to fully understand the implications of what it is that you’re doing and you need to have your full mental capacity.
It is perhaps most important if you’re becoming elderly, but equally an accident can happen at any time, so we do always suggest that you have a Lasting Power of Attorney in place.
The problem is that we are an ageing population and this brings with it increasing vulnerability as we get older.
Recent statistics show that 13% of the population live alone. Out of that figure
59 percent are aged 85 and over, 54 percent own their own home and there are more women than men living alone.
Having a financial Lasting Power of Attorney could be one of the most important documents you ever make as it could protect you from financial abuse.
Financial abuse takes lots of forms, it could be rogue builders wanting to do unnecessary refurbishment to your house or it could include such extremes as sham marriages.
Under a property and financial lasting power of attorney your attorney can act as if they were you.
Whilst you still have your capacity they must consult you, if you don’t have your capacity they can make decisions themselves provided it’s in your best interest. They can operate your bank account they can manage all your financial affairs such as paying utility bills and care fees, they can even sell your house if it’s necessary.
A Lasting Power of Attorney for health and welfare can only be used once you’ve lost mental capacity. It will allow your attorney to grant or consent to medical treatment, ask for medical records and make sure that you have everything for a comfortable life.