Lasting Power Of Attorney
If you are unable to manage your own affairs Lasting Power of Attorney appoints someone of your choice to do it for you
What Is a Lasting Power Of Attorney (LPA)?
- A Property and Financial Affairs LPA allows your chosen person to handle your bank accounts, investments, bills and property.
- A Health and Welfare LPA covers decisions about health and care.
Why Should You Have One?
- If you lose mental capacity through illness it can cost your family time and thousands of pounds to be given permission to handle your affairs.
- Joint bank accounts can become severely restricted.
- This can be devasting especially if a pension or other oncome is paid into the account.
What Happens If You Don't Have A LPA?
- If you are unable to look after your own affairs, your family will need to apply to the Court of Protection to have a deputy appointed to deal with everyday financial matters.
- This can be a really slow and expensive process which is stressful for your loved ones at what would be a difficult time.