Lasting Power of Attorney (LPA) in Bristol and South West England
What is a Lasting Power of Attorney (LPA)?
An LPA is a legal document whereby you appoint one or more individuals to make decisions on your behalf in the event of you being unable to make these decisions for yourself. An LPA operates whilst you are still alive. It needs to be put in place in plenty of time, whilst you still have mental capacity.
Often, when discussing estate planning with individuals, they tell us that they ‘don’t need to do this yet’ or they will ‘wait until their health starts to go downhill ‘ before acting. A significant number of families then call us back after we have visited their loved one to inform us that a significant event has happened, such as a stroke, and a loss of mental capacity has resulted. Unfortunately, when it is too late to put an LPA into place, it is too late.
There are two separate types of LPA covering different things.
A Property and Finance LPA allows the chosen individual(s) to make decisions on your behalf relating to your money, property, and management of your financial affairs.
A Personal Welfare LPA allows the chosen individual(s) to make decisions on your behalf around treatment options and where you will live.
Who Needs an LPA?
Anybody who may lose mental capacity and who cares about what then happens to them and their loved ones. This includes most of the adult population.
The Alzheimer’s Society identified that there are now over 850,000 people in the UK with dementia. Loss of mental capacity can, however, happen for all sorts of other reasons too including accidents, stroke, brain injuries as well as other conditions such as Parkinson's meaning that it can happen to any of us at any age, unfortunately.
What Happens if I Don’t Have an LPA?
The Court of Protection can freeze all assets in your name or in shared names. Your family may have no access to funds and will need to apply to the Court to grant permission to take back control which can be a very expensive , lengthy and bureaucratic process. All this happens at a time of huge stress and uncertainty when your family will also be trying to offer comfort and support to yourself.
Putting a Lasting Power of Attorney into place is a straightforward procedure which ensures you and your family are protected should the worst happen.
Here at The Will Associates, we have fully trained consultants visiting clients in the comfort of their own homes every day of the week, discussing all aspects of later life and death planning. We are specialists in our field. We take the time to fully understand the challenges presented within your set of circumstances before making any recommendation as to how best to meet your needs.
To ensure you and your loved ones are protected and to give you peace of mind, call us today on 0800 847 7050.