What is a Lasting Power of Attorney? It is a legal document which allows another person or persons to manage your finances (an LPA Property and Affairs) or health and welfare (a lasting power of attorney health and welfare.
How a Lasting Power of Attorney works.
If you lose the ability to make decisions things can go very pear-shaped and expensive – so it makes tremendous good sense to organise your Lasting Power of Attorney well in advance.
The best way is to work with us to get your LPA in place.
Still not convinced – read Neil Barkers terrible story – and that is by far and away the nicest story of not having an LPA in place as it just involves a total lack of control rather than any abuse. Neil’s estimate of the cost to him of not having an LPA of £50,000 will seem wildly optimistic when he sees the solicitors bill for looking after him for all those years. That isn’t a criticism of the solicitor – their fees are never modest!! So read Neil’s story and then
Ask for our Free Guide to LPAs and Legal Planning
There are two types of LPA.
1) What is a Lasting Power of Attorney Property and Financial Affairs?
It pretty much does what it says on the tin – the attorneys appointed can manage the finances of a person if they lose the ability to do so, or choose to ask the attorneys to act for them. The attorneys appointed by the person (spouse and children typically) MUST act in the best interest of the person and MUST consult them if at all possible.
2) What is a Lasting Power of Attorney Health and Welfare?
It is the “soft” side – where you live, who you see, what you eat or wear, where you live etc. It allows the family to deal with doctors and Social Services as if they were you. However, the LPA Health and Welfare CANNOT be used whilst you still have the ability to make your own decisions.