If you are worried about losing the capability to deal with your finances or are concerned about who will make decisions about your welfare either when you are no longer able to or later on in life, you should consider making a Lasting Power of Attorney (LPA).
A Lasting Power of Attorney is a legal document that allows you to leave directions about how your assets can be used, how you are cared for and who would have the power to make decisions about your affairs in the event that you are no longer able to make these decisions for yourself.
Why Consider A Lasting Power of Attorney?
Having a Lasting Power of Attorney in place provides you and your loved ones with the added security of knowing that your loved ones will be able to make decisions concerning your assets, your property and your welfare if you were not able to do so yourself due to old age, illness or injury. A Lasting Power of Attorney will allow you the opportunity to provide instructions on what should happen to your money, your property, where you live and how you are cared for. Without a Lasting Power of Attorney, your family and friends may find it difficult and even stressful to manage your affairs, particularly if they may not know what your preferences or wishes are.
By making a Lasting Power of Attorney you can:
- Specify your wishes and what powers your attorneys should have
- Specify when the Lasting Power of Attorney concerning your assets can or cannot be used
- Choose who is told about your Lasting Power of Attorney, allowing people to raise concerns now should they wish to do so
- Reduce the risk of your lifestyle or your family’s lifestyle being disrupted due to your inability to deal with your own affairs
- Reduce the likelihood of potential conflicts between family members in the future
Our expert team has significant experience with Lasting Powers of Attorney and can lead you safely in devising a plan that ensures your wishes are adhered to in the event that you are no longer able to make decisions about your own affairs in the future.