In the event that you lose the mental capacity to make your own decisions, a Lasting Power of Attorney (LPA) is a plan that enables you to nominate one or more representatives (or Attorneys) to make key decisions regarding your health and welfare, and financial affairs.
These Attorneys will make decisions for you when you are unable to make them for yourself, in your best interest.
What are the benefits? Creating a Lasting Power of Attorney gives you the chance to appoint a trusted family member, friend or professional to look after your affairs and assets if you can no longer make your own decisions, either temporarily or as a result of very serious permanent injury. Having one means you’ll be able to leave your affairs in the hands of those who know you best, rather than having the inconvenience or expense of the Court of Protection administer / supervise your affairs.
How old do you have to be to make a Lasting Power of Attorney? You can have a Lasting Power of Attorney created as soon as you are 18 years old. Some professions are deemed to be higher risk; however, accident, stroke and incapacitation can happen to anyone. It is recommended that everyone should execute Lasting Powers of Attorney.
When does a Lasting Power of Attorney come into effect? Importantly, your LPA’s must be completed whilst you have mental capacity and is effective as soon as it is registered with the Office of the Public Guardian.
Registration doesn’t mean that an individual has lost their ability to make decisions, it just means the Attorneys appointed are in place if they are needed.
At AFC Legal we can assist you with completing the documents needed to ensure the people you trust can make those vital decisions for you, if you’re ever in the position where you can’t make them yourself.
To arrange an initial over-the-phone consultation about our Lasting Power of Attorney service, contact us now at firstname.lastname@example.org or call us on 0800 689 0386.