Lasting powers of attorney
Lasting Powers of Attorney (LPAs) are documents you can sign which appoint others to make decisions for you in the future if you become physically or mentally unable to make decisions.
No one likes to think of a time when we won’t be fit and able, but we are all living longer with complex health needs such as dementia becoming more prevalent. It is estimated that there are 1 million people currently living with dementia in the UK.
Attorneys are the people you nominate to make decisions for you in the event that you need help with decisions in the future. They can be family members, friends or professionals.
There are two types of LPA – one relates to financial decisions and the other relates to health and welfare decisions. The financial LPA means that your chosen attorneys can access your finances, pay your bills and make financial decisions on your behalf if you become physically or mentally unable to act on your own.
The health and welfare LPA allows your attorneys to decide where you live, what care you receive or medical treatments but only if you can’t make those decisions for yourself.
LPAs must be registered at the Office of the Public Guardian, a government body, before they can be used, registration incurs a fee of £82 per document.
At worth.legal we consider LPAs to be as important as your Will as if you don’t have LPAs in place, your family will need to apply to the Court of Protection for permission to make decisions on your behalf. This is a lengthy and more costly process than putting LPAs in place when you are fit and able to do so.
It is important to think about mental incapacity now, whilst you are fit and able to do so. LPAs mean you decide who will make decisions for you should you need help in the future.
Talk to our Team today about putting LPAs in place to protect you and your family. Prices for LPAs start at £350.