Old age, illness, accident or incapacitation – the chances are that at some stage in many people’s lives, the need to grant power of attorney may well become a reality.
Thinking and talking about what would happen if our capabilities desert us for any reason is uncomfortable. However, it’s better to suffer some uncomfortable thoughts now than leave your family in dire financial circumstances later.
That’s why it is important to have already prepared legal documentation allowing trusted friends or family to resolve matters on your behalf.
The documentation you need is a Lasting Powers of Attorney (LPA).
If someone has difficulties they may still be able to make decisions, but still need help to manage their financial arrangements. In this instance, LPA is a legal document whereby someone nominates a trusted friend or relative to look after their affairs.
Extreme care and considerable expert advice is required to properly establish this form of protection.
Which Lasting Power of Attorney is right for you?
There are two types of Lasting Power of Attorney (LPA) for you to choose from, or you can opt for both:
Property and Financial Affairs LPA
This gives your attorney the authority to deal with buying and selling your property, your bills, bank accounts and investments. This can be used while you are still capable but have chosen to delegate to your attorney.
Personal Welfare LPA
This type of LPA can only be used when you have lost capacity and are not able to make decisions for yourself. It gives someone you trust authority to make decisions about where you should live and what medical treatment you should receive.
Find out more now
If you live in or around Berkshire we can provide advice on Lasting Power of Attorney and help you to set up an LPA.
For further information, call 0118 934 7920 or contact us.
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