Thinking about Lasting Powers of Attorneys (LPAs) is not just something older people need to do – everyone should consider writing them.

To put it simply, writing a Will and an LPA is not top of anyone’s to do list – it is not even at the bottom.  But it is important, not just so someone will have your best interests at heart should you fall ill or be in an accident, but also so your loved ones know who should be making the big decisions if you are not able to.  If you have lost your mental capacity, it is too late and your loved ones may struggle to gain control of your affairs.

It is the grim truth that accidents can happen at any age, which is why putting together an LPA is something young people should consider, as well as old, including the four in ten Britons who feel they are too young and healthy to need an LPA, identified in recent research by SAGA.

So what is an LPA?

It is a way of giving legal authority to someone you trust to make decisions on your behalf should you lack either the mental capacity to make them yourself or should you be physically unable to manage your affairs. That could be a temporary or permanent loss of mental or physical capacity.

There are two types of LPA – one for health and care decisions and the other for financial. Under the former, your chosen attorney can make decisions about your medical care and where you live, whilst under the latter the choices will be around buying and selling property as well as paying bills. They have to be set up individually and registered with the Office of the Public Guardian at a cost of £110 each.

Here at The Fry Group we have been helping people write LPAs since their inception in 2007 and with their predecessors, Enduring Powers of Attorney, before that. Call us now on +44 (0)1903 222233 or email steve.wright@thefrygroup.co.uk  for advice to ensure that, should you become incapacitated, your life is in good hands.

This entry was posted on Wednesday, 9th November 2016 at 4:11 pm and is filed under Estate Planning. You can follow any responses to this entry through the RSS 2.0 feed.

Tags: Planning