A Will ensures that your affairs are dealt with when you die, however, what if you are unable to manage your affairs in the future? Who will ensure that your bills are paid? Or act in your best interests concerning your medical care?
This is where an LPA comes into play. It is like an insurance policy that would enable you to appoint someone you trust as an ‘attorney’ to make decisions on your behalf if you were to lose mental capacity in the future.
7 key facts about LPAs:
- There are two types, i) property and financial affairs and ii) health and welfare. You can choose to do either or both
- It is possible to limit the powers of your attorneys in certain circumstances
- You can choose whether your LPA is used before or when you lose capacity
- The LPA is a legally binding document
- An LPA can be revoked at any time provided that you still have the mental capacity
- If you do not have an LPA in place and you lose capacity, decisions regarding your affairs may be taken by a Court
- If you have previously made an Enduring Power of Attorney (EPA), this will remain valid but only concerning your property and financial affairs (not your health and welfare).
Our specialist private client solicitors will take you through each step of the process of making an LPA in a pragmatic and cost-conscious manner and will provide you with peace of mind that your affairs are in safe hands should you lose capacity in the future.
If you would like to speak with a member of the team, you can contact our solicitors on 02034173859.