legal & financial
LASTING POWERS OF ATTORNEY - AS IMPORTANT AS WILLS?
B
ethany Williams, a solicitor in Wansbroughs’ Private Client team, explains why Lasting Powers of Attorney (‘LPAs’) are worth considering. Wills have been in high demand lately. It is not hard to see why; uncertainty and a deadly virus have been enough to make many consider their own mortality, as well as the need to ensure loved ones are looked after. LPAs are not always viewed in the same way. Wills are used to ensure your affairs are in order before death - a certainty. Whilst LPAs may only be needed if you are
unlucky enough to lose mental capacity. However: • It is estimated that more than 1 million people in the UK will be living with dementia by 2025. • If you lose capacity, you also lose the ability to make LPAs. In these circumstances, a time consuming and costly application to the Court of Protection will be needed to appoint a deputy to manage your affairs.
help with Wills and LPAs, please do get in touch with us at wealth@wansbroughs.com. • wansbroughs.com Bethany Williams
Whilst they differ, both documents put crucial arrangements in place so that undue stress and costs are not faced by your loved ones. For
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