In the event that you became incapacitated through serious illness or injury, disability, stroke or dementia… who would you want looking after your property, finances, health and welfare? Your family that know and love you or… the Local Authority?
If you lose capacity either through an accident or illness such as a stroke or dementia, someone needs to act on your behalf to carry out your personal and financial affairs. If you lose the legal capacity to make decisions for yourself, your bank accounts may be frozen (even if it is a joint account)* until someone can be appointed to make decisions for you. This inevitably can cause a lot of distress for friends and family as bills cannot be paid and pensions or benefits cannot be accessed.
A Lasting Power of Attorney (LPA) specifically deals with the appointment of one or more people to manage your affairs if you are unable to do so.
There are two types of LPA; one to choose who can make financial decisions for you (LPA Property and Financial Affairs) and the other where you can choose who should make decisions about where you should live and medical treatments etc. (LPA Health and Welfare).
A Lasting Power of Attorney (Property and Financial Affairs) can cover:
A Lasting Power of Attorney (Health and Welfare) covers aspects such as:
An LPA must be registered with the Office of the Public Guardian before it can be used. Once registered, a Property and Welfare LPA can be used immediately but a Welfare LPA can only be used when you are not mentally capable of making your own decisions. The elements of an LPA and when it can be used.
When making an LPA you can appoint one or more persons to act as your attorney. These are usually the closest people to you who you trust to manage your affairs or make decisions about your health.
Jointly/Jointly and severally
A Will is a legal document that clearly sets out your wishes for the distribution of your estate after your death. Having a clear, legally valid and up-to-date Will is the best way to help ensure that your assets are protected and distributed according to your wishes.
mirror wills consist of two separate documents that are almost identical. The surviving partner is usually named as the beneficiary of the first death, and then the same beneficiaries on the original will are handed the estate upon the second person’s death.
£150 for 2nd LPA (£125 for over 65's)
In the event that you became incapacitated through serious illness or injury, disability, stroke or dementia… who would you want looking after your property, finances, health and welfare?