Making a Lasting Power of Attorney puts you in control
There is no specific age when you should consider making a Lasting Power of Attorney (LPA) as anyone can lose capacity at any time through illness or if injured in an accident.
What is important to note is that you can only set up an LPA when you have mental capacity. Once you’ve lost capacity, it’s too late!
Why do you need an LPA?
Dagmara Kulczykowska, Head of Private Client Services explains why an LPA is so important. An LPA is a legal document in which you can appoint someone you trust to act on your behalf as your attorney if there comes a time when you cannot make decisions for yourself in conection with your property, financial affairs, health & welfare matters.
Without a formal LPA your relatives or those you trust cannot manage your affairs even if it is to help you. If you do not have an LPA and you lose the ability to manage your own affairs then your assets will be frozen until a Court Order can be obtained.
It is therefore best to plan ahead and set up an LPA while you are still in good mental health, removing any future burden from your family.
How do you set up an LPA?
In order for an LPA to be valid it must be done correctly and we can do this in 3 simple steps:
1. We will take your details during a meeting, by phone or email – whichever you prefer;
2. We will then meet you to explain and sign the paperwork. One of our Solicitors will act as your witness and Certificate Provider;
3. We will then submit the LPA for registration at the Office of the Public Guardian. Turnaround time for registration is approx 8-12 weeks.
Once these steps are completed the LPA is ready, giving you that peace of mind.