Lasting Powers of Attorney
Many people will be affected by mental incapacity at some point in their lives, whether through illness, old age or as the result of an accident. It is important to appoint someone to manage your affairs if ever you lack the mental capacity to do this yourself. If you do not have a suitable arrangement in place and you lose the capacity to manage your affairs yourself, an application would need to be made to court to appoint someone to manage your affairs for you. Not only is this a relatively expensive and lengthy process, but you also would have no control over who is appointed.
These uncertainties can be avoided by creating a Lasting Power of Attorney ('LPA'). This document allows you to choose one or more relations, friends or colleagues as your attorneys to make decisions on your behalf. Two types of LPA exist; one relating to your 'Property and Financial Affairs' and the other relating to your 'Health and Welfare'. Our specialists can advise you fully on the options open to you and guide you through the process of creating and registering an LPA.
What happens if you already have an Enduring Power of Attorney in place?
Any Enduring Power of Attorney (EPA) validly made before 1st October 2007 can still be used in respect of your property and affairs. No new EPAs can be made after this date. If you wish to change anything within your EPA then you will now need to make an LPA. If you wish to give authority over your health or welfare you will need to make a personal welfare LPA.
For more information on lasting powers of attorney please call us on 0345 111 5050 to speak to one of our expert lawyers.