Why a lasting power of attorney is so important

What is a Lasting Power of Attorney and why is it recommended to have one?

A Lasting Power of Attorney (LPA) is a legal document which allows you (the donor) to choose a person or persons that you trust to make certain decisions on your behalf. Granting an LPA gives you peace of mind to know that should you be unable to manage your financial affairs or health and welfare due to lack of mental or physical capacity then you can choose a person or persons that you trust to be able to manage your affairs and/or your welfare on your behalf. There are two different types of LPA, one for your financial affairs and one for your health and welfare. LPAs can only be set up whilst you have the mental capacity to make decisions. If you become mentally incapable of making your own decisions and do not have LPAs in place, the Court will appoint a Deputy to work on your behalf. A Deputy works very much like an Attorney but has the added complexity of strict Court oversight and involvement (which results in the inevitable extra costs and delays for you in the long run).

We believe everyone over the age of 18 should set up an LPA as it will give you the security to know that if your health does decline you can rest secure in the knowledge that someone of your own choice, someone you trust, will be looking after your affairs for you.

Gaynor Cooke Chartered Legal Executive, Partner and Head of Wills & Probate

Harold G Walker Solicitors