Lasting Powers of Attorney documents are a way for you to decide who has the legal authority to manage your affairs if you are unable to look after yourself – and they are just as important as having a Will.
Though we do all tend to at least think about what will happen to our assets if we die, most of us don’t even consider the consequences to our estate if we lose the ability to take care of ourselves. This could happen as a result of dementia, mental illness or a serious accident, and if you are not prepared, your family could end up locked out of your affairs with no legal evidence that gives them the authority to manage your affairs.
Acting almost as an insurance policy for yourself, Lasting Powers of Attorney (LPA) documents must be written before an accident or problem occurs, and are impossible to put in place afterwards.
This means that although it can be too late to prepare your LPA documents, it is never too early.
Without this cover, your loved ones do not have authority to handle your affairs, and have to apply to the Court of PRotection to gain legal permission. All this takes a significant amount of time and money – upwards of a year and £1,00’s to gain legal authority.
LPA documents allows you to give those that you love and trust the ability to make decisions on your behalf when you no longer can; these can include financial decisions as well as those regarding your health or personal welfare.
These documents are extremely flexible to your situation, and even if you already have existing EPA (Enduring Powers of Attorney) documentation in place, Taylor Hall Financial Services can help you to make the most of any additional features or benefits which might be available to you.
To arrange a free consultation and discuss how you can prepare your LPA documents
Call us today on 0191 581 9018
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