5 reasons why you need a Lasting Power of Attorney
Do you really need a Lasting Power of Attorney?
A Lasting Power of Attorney (LPA) is a secure legal document which enables a trusted person/persons to make financial or personal decisions on your behalf if you find yourself unable or unwilling to. Below we have listed 5 reasons as to why you may need a Lasting Power of Attorney for yourself or for a loved one.
Peace of mind
If you find yourself in a situation where you are unable to make decisions for yourself and do not have an LPA already in place, then somebody will have to apply to the Court of Protection on your behalf and issue a Deputy. By appointing your own Attorney you ensure that your affairs will be managed by a person/persons whom you trust and who love you and not an anonymous lawyer or social worker.
Aside from the emotionally challenging aspect of having a Deputy, going through the Court of Protection is a lengthy, time-consuming process that is far more costly than creating an LPA.
If you are a joint account holder and the other joint account holder loses capacity, you do not automatically have the right to access the account unless you have an LPA, EPA or Order from the Court of Protection.
Just because you have an LPA, it doesn’t mean that you automatically lose all control in your day to day life. If you have certain wishes, instructions or limitations that you would like to specify in your LPA then you are certainly able to do so. Also, no attorney can make decisions on your behalf when you are willing and able to make them yourself.
An LPA is a powerful legal document and the Attorney is closely monitored by the Office of the Public Guardian. An LPA is probably the single best way to make sure that your interests are protected and that your peace of mind is secure
How we can help
Wheelers Solicitors have helped hundreds of clients create Lasting Powers of Attorney since the scheme began in October 2007. We are experts in advising on all aspects of drafting Lasting Powers of Attorney to ensure that each document is created according to the needs of the individual client who requires one. If you would like to learn more about how we can help you then you can read more about our service in our e-brochure here , call us on 01983 533938 or contact us via our website. If you have decided that you need a Lasting Power of Attorney then call us to arrange an appointment.