Wills protect your family after you’re gone… but what about while you’re still here?
Most people understand how important it is to make a Will. It helps protect your loved ones and makes sure your wishes are followed after you pass away. However, what many people aren’t aware of is that there’s another legal document that is just as important…one that protects you and your family while you’re still alive. That’s a Lasting Power of Attorney (LPA).
What are Lasting Powers of Attorney?
LPAs allow you to appoint trusted people such as family members, close friends, or legal professionals to make decisions on your behalf if you ever lose the ability to do so yourself, this could be due to illness, an accident, or age-related conditions such as dementia.
There are two types of LPAs:
- Property and Financial Affairs LPA – lets your attorneys manage your bank accounts, pay bills, access pensions, or sell your home if necessary.
- Health and Welfare LPA – lets your attorneys make decisions about your care, medical treatment, and where you live, if you can’t decide for yourself
A second line of defence for you and your loved ones
Making LPAs is about preparation. Just as your Will ensures your loved ones are looked after when you’re no longer here, LPAs ensure you’re looked after if you’re no longer able to make decisions yourself or need further support to do so.
If LPAs are not in place and you lose mental capacity, you are no longer able to give instructions to put Lasting Powers of Attorney in place. This would mean that your family won’t be able to act on behalf of you, like an attorney would be able to, without going through the Court of Protection which is renowned as a stressful, time-consuming, and costly process.
Who needs Lasting Powers of Attorney?
It’s a common misconception that LPAs are only necessary later in life. In reality, mental or physical incapacity can happen at any age, whether due to illness, an accident, or an unexpected health condition. Not only this but Lasting Powers of Attorneys can also benefit those who simply want some extra help with day-to-day tasks, like managing finances, paying bills, or dealing with the bank.
By putting LPAs in place early, you’re making sure that the people you trust can step in quickly and confidently to help you when needed – without delay, stress, or legal obstacles. It’s a simple but powerful way to stay in control and give both you and your loved ones valuable peace of mind.
We’re here to help
Whether you’re looking to prepare one or both LPAs or simply want to learn more, we’re here to help. Please feel free to contact me, Georgia Everitt, or a member of our team to arrange an appointment. We’ll be happy to guide you through the process and help ensure peace of mind for you and your loved ones.
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