It is still a surprise for many to find that no one automatically has a right to deal with your property or financial affairs if you are unable to do so. Not your spouse, child or family member. But making a Lasting Power of Attorney enables you to decide who should deal with these matters on your behalf if you become unable or incapable of managing them yourself.
There are two types of Lasting Power of Attorney (LPA). LPA (Property and Financial Affairs) and LPA (Health and Welfare). The former deals with your property and affairs including signing cheques, selling property, entering into agreements on your behalf, dealing with your bank etc. The latter deals with your health needs including whether to receive particular medical treatment, decisions about where you live and your general welfare.
A Lasting Power of Attorney is not just a document for the elderly. Younger people sometimes lose the ability to manage their affairs through illness or accident.
If you’d like to find out more about Powers of Attorney then please get in touch.
Authorised and regulated by the solicitors regulation authority.