As Lasting Power of Attorney solicitors, we can help advise you on navigating the finer details of the Lasting Power Attorney (LPA) journey. Here’s all you need to know about what an LPA is. And why you or your loved ones might want to think about getting one.
LPA’s came into English Law and were were created under the Mental Capacity Act 2005. They came into effect on 1st October 2007. Their purpose is to meet the needs of those who can see a time when they will not be able to look after their own affairs. Be they personal, financial or business. An LPA is a legal document. It lets you appoint one or more people, known as “attorneys” to help make decisions if you can’t.
When might you need an LPA
You need an LPA if, for any reason, you suddenly become unable to manage your own affairs. For example, you suffer an accident and are confined to bed or hospital. Or in the event you suffer a more serious accident which permanently incapacitates you. It might just be that you become mentally incapacitated as a result of old age. In those events, without an LPA the only way that your financial affairs can be managed is by an application to the Court of Protection from a relative or other person close to you. This could take up to 10 months to process and costs over £1,000.00.
Appointing Lasting Power of Attorney solicitors gives you peace of mind. This gives you more control over what happens to you if you are deemed to lack mental capacity to do so yourself. In which case they are able to make decisions on your behalf.
It’s a really straightforward process, so please feel free to get in touch if this is something you’d like to discuss in more detail.