Securing Your Future: The Importance of Lasting Power of Attorney

The Dual Facets of Lasting Power of Attorney (LPA):

• Health and Welfare: Addresses your medical and day-to-day wellbeing.
• Property and Financial Affairs: Focuses on your assets, finances, and other monetary matters.

While the topic of LPAs often evokes images of aging and dementia, it's crucial to understand they aren't exclusive to the elderly. One can establish an LPA at any life stage, but it's activated only upon losing the capability to decide autonomously. Think about it: who would you entrust to address a tax discrepancy, access your bank funds, or manage essential benefits on your behalf? With an LPA, you can delineate the exact privileges you'd bestow upon your Attorney and specify when they'd come into play.

Why Everyone Needs an LPA:

Setting up an LPA is straightforward, and its presence is vital, irrespective of age. Without one, any loss in mental competency would lead to lengthy and expensive Court of Protection interventions.

Diversifying Power - The Choices:

• Joint Attorneys: Appointing two individuals mandates them to act collectively, enhancing transparency and mitigating potential malpractices. However, the LPA's validity dissolves if one attorney either passes away or loses mental competence.
• Joint and Several Attorneys: This option allows either appointed party to operate independently. Even if one attorney becomes incapacitated or passes, the LPA remains intact.

Ready to secure your future? Connect with us toll-free at 01606 624 120 or through our contact form. We're here to guide you every step of the way.