Do the directors of your business have a Lasting Power of Attorney?

A Lasting Power of Attorney (LPA) allows you to appoint someone to make certain decisions on your behalf regarding your finances, health and welfare.

Also:

• It can help to prompt a discussion with your family or others about your future wishes.

• It ensures that the person whom you want to make the decisions for you, (the attorney) will be able to do so in the future.

• It prevents disagreements and perhaps someone you may not fully trust from having any power over decisions made on your behalf.

• It is reassuring to know that someone can make decisions for you if you are unable to.

• Helps ensure business continuity.

Anyone over the age of 18 can make an LPA as long as they have the mental capacity to do so, which is why it’s important to make an LPA ahead of you ever needing it. There are two different types of LPA, a property and financial LPA and a health and care LPA. You can choose different people to be your attorney for each and you can choose to make one or both different types of LPA depending on your likely future needs.

LPA’s are important and with our busy lives, they are often overlooked. Spending a little time now is worthwhile to plan for your future and to give you great peace of mind to know that your future wishes are going to be carried out as you would like.

For more information about LPA’s contact Alex Astley, Partner, Gullands Solicitors www.gullands.com