Lasting Power of Attorney
What would happen if you no longer had the mental capacity to make decisions about your property, finances, health and welfare?
In this instance, a Deputy, appointed by the Court of Protection, would be put in place to manage your affairs.
If you would prefer to have control over who makes such important decisions about your life if you lose mental capacity, then it would be wise to consider putting a Lasting Power of Attorney (LPA) in place.
An LPA is a document that allows you to appoint one or more people to make decisions on your behalf in the event that you lose mental capacity in relation to either:
- Health and welfare – this includes decisions about care, medical treatment, food, drink, clothing, activities, and where you live.
- Property and financial affairs – thisincludes decisions about paying bills, bank accounts, savings accounts, investments, and selling property.
Benefits of an LPA include:
- Peace of mind: You can rest assured that someone you trust will make decisions for you according to your wishes if you are unable to.
- Clarity: You can start discussions with your family about what you want to happen.
- Cost and Speed: An LPA is a significantly quicker and cheaper process than the Deputyship application.
If you are considering setting up an LPA or would like to discuss this or any Private Client matters further, please contact Sophie Careless-Shore, scarelessshore@moyle.co.uk.
