LPA's - Lasting Powers of Attorney
LPAs are divided into two types: one that addresses a person's health and well-being and the other addresses their financial position. We can assist you with completing out the lengthy LPA documents and ensuring that everything is in place in the event that you ever need one.
Why do I need an LPA?
If you or a family member loses capacity due to illness or an accident, your next of kin or carer may face numerous challenges when attempting to manage your affairs on your behalf, including paying basic bills, managing your bank or building society account, and arranging your care. Unfortunately, many people do not have a Power of Attorney in place, and by the time they do, it is too late; key decisions can be taken away from immediate family members or the person you trust to make them for you if you are unable to.
What happens if I don't have an LPA?
If you lose mental capacity and do not have an LPA in place, your family will need to apply to the Court of Protection to have a deputy appointed to handle financial concerns. This is a long and costly process that can take up to a year, generating stress and extra expense for your family.
Furthermore, if one of the account holders loses mental ability and there is no registered LPA in place, joint bank, building society, and business accounts can be severely restricted.
