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Lasting Power of Attorney: Safeguarding Your Future.

Updated: Dec 31, 2023

When thinking about the future, having a Lasting Power of Attorney (LPA) is like safeguarding your future and having a really important document in place. It helps people in the UK make important decisions when they can't make them on their own anymore. The LPA is like a safety net, making sure that what you want to happen actually happens. In the UK, there are two types of LPA: one for health and welfare decisions, and another for property and money matters. In this blog, we'll talk about why having an LPA is so important and explain these two important parts of it.

The Importance of Lasting Power of Attorney:

As life unfolds, unforeseen circumstances may arise, affecting our ability to make decisions about our health, finances, and overall well-being. In such cases, having a Lasting Power of Attorney becomes instrumental. An LPA is a legal document that authorises a trusted individual, known as the attorney, to make decisions on behalf of the person who creates the LPA. Without this document, important decisions may be left in the hands of the court, causing delays and potential disagreements among family members.

Two Types of Lasting Power of Attorney:

  1. Health and Welfare LPA: This type of LPA grants your chosen attorney the authority to make decisions regarding your healthcare and personal welfare when you are unable to do so. This includes decisions about medical treatments, living arrangements, and end-of-life care. By appointing a trusted individual through a Health and Welfare LPA, you ensure that your preferences for medical treatment and care are respected, even if you cannot express them yourself.

  2. Property and Financial LPA: The Property and Financial LPA empowers your chosen attorney to manage your financial matters, including property, investments, and other financial assets. This type of LPA can be particularly vital if you face challenges such as physical incapacity or cognitive decline. With a trusted individual handling your financial affairs, you can be confident that your assets are managed in accordance with your wishes and best interests.

The Benefits of Lasting Power of Attorney:

  • Peace of Mind: Creating an LPA provides peace of mind, knowing that someone you trust will be there to make decisions on your behalf when you cannot.

  • Avoiding Court Intervention: Without an LPA, the court may need to appoint someone to make decisions on your behalf, leading to potential delays, costs, and uncertainties. An LPA ensures that your preferences are honored without the need for court involvement.

  • Maintaining Control: LPA allows you to maintain control over critical aspects of your life, even when circumstances prevent you from participating in decision-making.

Here are some useful sites for more information:

People signing paperwork
Lasting Power of Attorney

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