What is a Lasting Power of Attorney and how can it help me?

As you grow older, you may decide that you no longer want the hassle of dealing with the financial burdens of day-to-day life. In these circumstances, you can put a Lasting Power of Attorney, also known as an LPA, in place to allow a relative or close friend to help you to ease the burden.

There are two types of LPA available and these are both used in different circumstances. The first is Property and Financial affairs and the second is Health and Welfare. In order to make either of these LPAs, you must have the capacity to do so and be over the age of 18.

Property and financial affairs will help you to allow other people to manage your financial affairs, including the sale of your house and access to your bank accounts. Due to the control, the attorney will have over your financial status, you should think carefully before appointing someone.

The Health and Welfare LPA  will not come into force until the time comes when you no longer retain the capacity to make decisions for yourself.  Once in force, the LPA will allow your attorney to make decisions about your day-to-day care and even whether you receive life-sustaining treatment.

A Lasting Power of Attorney can give you the assurance that you have people in place to help and assist you throughout the rest of your life, no matter what happens.

In circumstances where individuals do not have these documents in place and capacity is lost or for some reason, you are just not able to deal with your affairs the procedure to have someone appointed is expensive, timely and extremely cumbersome.

If you would like to speak to someone about making a lasting power of attorney, please call Tom Pettman or Andrew Guilfoyle on 01264 353411 who will be happy to help. If you would like to email us, please do so at:  wills@bsandi.co.uk