T R E T H O WA N S | TA L K I N G B U S I N E S S
Why everyone should have a Lasting Power of Attorney (LPA) Whenever I see clients I always recommend that they review and, if necessary, update their Wills and LPAs. If they don’t have them then I advise that they make them without delay. What does a Lasting Power of Attorney do? LPAs are available in two parts; Property and Financial Affairs and Health and Welfare. You can choose to prepare either or both. I would always recommend preparing both. A Property and Financial Affairs LPA enables your chosen attorneys to ‘stand in
How your attorneys are appointed needs to
I often describe LPAs as an insurance policy.
your shoes’ and make decisions regarding
be carefully considered and the advice of an
They are made in the hope that they are not
all your financial and property matters,
experienced professional should be sought.
needed, but if they are needed then they
including the sale of your property.
make life easier at what may be an already Can I make my Lasting Powers of
A Health and Welfare LPA enables your
Attorney myself?
attorneys to make decisions regarding your
Yes, you can make your Lasting Power of
personal self, if you lose capacity to make
Attorney yourself, directly with the Office
those decisions in the future.
of the Public Guardian. However, similar to
difficult time.
Wills, by doing so you may be missing out Who should I appoint as my attorneys?
on important advice that a professional
This requires careful consideration. LPAs
can provide. Unfortunately, it is often the
confer a significant authority on your
case that when LPAs go wrong, it is too
attorneys to handle your financial and
late to change them, resulting in costly
personal affairs. You should be appointing
applications to the Court to rectify matters.
someone who you feel you can trust to act
It is much better to get it right at the outset.
in your best interests. Do I need to prepare my Lasting Powers Commonly, a spouse and children are
of Attorney now, or wait until I am older?
If you have any queries regarding Lasting
appointed as attorneys but, do consider
It is a common misconception that LPAs are
Powers of Attorney or would like more
whether the children will work well together.
for the elderly and those that are suffering
information then you can contact Adam
Huge problems can arise if the attorneys are
with Dementia. An LPA has a wider use than
Scott on Adam.scott@trethowans.com or
always fighting instead of looking after you.
that. An LPA can be used if you were ever
01202 338585.
in an accident and perhaps in a coma, or You can appoint a professional attorney
if you were hospital bound for a temporary
Adam Scott is a qualified Solicitor, Full
for extra peace of mind, but you will need
period. LPAs are especially important for
Member of Solicitors for the Elderly and
to weigh this with the cost of having a
those who have young children and are the
a member of the Society of Trust and
professional appointed.
main income earner in their household.
Estate Practitioners.
C O N TAC T
WEBSITE
01202 338585
info@trethowans.com
www.trethowans.com
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