In the UK last year 691,746 Lasting Powers of Attorneys were applied for showing the importance people are placing on safeguarding future decisions relating to their health, care, property and financial affairs.
What are LPAs?
There are two types of LPA. The first is Health and Care, giving your chosen attorney(s) the power to make decisions about care homes, daily routines, medical care and whether you would like your attorneys to consent to life sustaining treatment.
The second is a Property and Financial Affairs LPA enabling your attorney(s) to pay bills on your behalf, access your pension, manage your bank accounts and sell your home.
Why get a Lasting Power of Attorney?
A Lasting Power of Attorney (LPA) allows you to keep important matters and daily life within your wishes, even if you are not in a position to communicate those decisions yourself. Having an LPA can avoid disagreements amongst those around you and prevents the courts and organisations from having the control to make decisions without your consent.
An LPA is a legal document allowing an individual to choose one person or more to act on their behalf in the event that you lose capacity. This means that if you lose mental capacity or are at risk of doing so through illness or accident, you can appoint loved ones and professionals to make sure decisions you would make are taken and your affairs are cared for.
Peace of Mind
All Attorneys must follow strict guidelines which set a clear standard of care and limitations on the scope of their roles. For example, your money and theirs can never mix and any instructions you make must be followed.
Each LPA created can be personalised with clear guidelines and instructions if you so wish meaning that any fears you have can be allayed through a discussion with a legal practitioner making sure to draft what is important to you.
LPAs are not set in stone. If relationships change attorneys can too as well as any instructions you add up to the point of the loss of capacity. Your LPA can always reflect your wishes right up until the point of use.
At TLS we draft our LPAs with you in mind allowing for your wishes to be followed if you are no longer able to implement them. Get in touch with our Private Client team today for a confidential discussion on Lasting Powers of Attorney and the benefit these can have on your future planning.
Contact us today on 01637 872361