Having a Lasting Power of Attorney (LPA) is important in ensuring someone you trust is able to make decisions on your behalf should you no longer be able to.
The attorney can be given authority to make decisions in relation to your financial affairs, health or other important matters.
You may feel you do not need to implement this if you currently have full mental capacity, however you should consider putting an LPA in place sooner rather than later as unexpected events may lead to a sudden need for someone to act on your behalf.
When may you need a Lasting Power of Attorney?
There are several situations in which you might need an LPA. For example, if you become ill or are involved in an accident and are unable to make decisions for yourself, giving someone Power of Attorney can be extremely helpful.
Without this, your family members may have to go through a court process to be appointed to make decisions for you.
There are two forms of LPA which include:
– Health and welfare
– Property and financial affairs
A Health and welfare LPA can help with decisions regarding daily routine, medical care, life-sustaining treatment or when to move into a care home.
A property and finances affairs LPA can help with managing your bank, collecting benefits, paying bills or selling your home.
If you lose mental capacity and do not have an LPA in place, decisions about your finances, health, and welfare will be made by a court-appointed deputy.
An LPA allows you to choose someone you trust to make decisions on your behalf, and you can set out your wishes and preferences in advance.
You’ll be able to feel relaxed that your affairs will be managed in accordance with your wishes, and by someone you trust.
If you need advice on drafting an LPA and having someone to make decisions on your behalf, contact us today.