Lasting Powers of Attorney
Have you considered what will happen to your assets or your personal welfare if you lose the capacity to make decisions?
This doesn’t just happen to the elderly; younger people may become incapacitated through accident or illness.
If you make a lasting power of attorney (LPA) for property and finance and/or health and welfare you can choose the people you want and trust to make those decisions for you rather than have them imposed by a court. They are known as attorneys. You can restrict or specify the types of decisions the attorneys make, or you can allow them to make all decisions on your behalf.
If you don’t have an LPA in place and you lose capacity, your trusted ones will have to apply to the court for deputyship which will inevitably cause delays and be costly. It will also mean that full disclosure of your assets and needs will be made to the Court of Protection who will make orders to administer your affairs.
Iain Wanstall can help by advising you and preparing your LPAs, and then registering them with the Court. He is also a member of STEP (the Society of Trust and Estate Practitioners), which is a specialist professional association dealing with family inheritance and succession planning.
Labrums offers free talks where Iain can help you to understand what you need to do to plan for later life. You will hear, in particular, about preparing your will, LPAs and how to ensure your wishes are carried out. Please call the office to find out when his next talk is.