As you get older, there may come a time when you don’t want the bother of the day to day management of your financial affairs or you are physically or mentally unable to manage them.
This could include paying your bills, drawing out money or managing any household repairs. At this point, it may be time to consider making a Lasting Power of Attorney, also known as an LPA.
An LPA can give you the freedom from the worries of managing your financial affairs and Avenue Solicitors can help you to achieve this today.
Lasting Power of Attorney (LPA) is a legal document that allows you to appoint someone to make decisions on your behalf. The scope of these decisions depends on which type of LPA you make.
There are two types of LPA to choose from. The first is called Property and Financial Affairs LPA and the second is a Health and Welfare LPA.
A Property and Financial Affairs LPA will allow your appointed attorney to manage your property and money on your behalf. This includes paying your bills, managing any income or benefits you have and also selling your property. You can see that an LPA gives a large amount of power to the person you appoint as your attorney. Therefore you must choose someone who will act in your best interests at all times.
The second LPA is a Health and Welfare LPA. This LPA comes into force once you are unable to make decisions about your own care, because you lack capacity. It can include decisions about what you wear, what you eat and where you live. You can also choose to give your attorney the right to make choices about whether you should receive life sustaining treatment or not.
In order to make an LPA, you must have the capacity to do so, be over the age of 18 and show that you understand what an LPA means and that you are making this decision to appoint power of attorney yourself, without any coercion.
It can be a real weight off your mind to know that you have someone else looking out for you and protecting you and your interest. We will help you to make the right decisions based on your requirements.
We know that any legal process may be daunting, but we will do all we can to support you throughout and provide you with sensitive, clear and professional advice to enable you to choose the right LPA for you.
We can provide you with detailed information about the cost of an LPA so you can plan and budget for the expense. .
For more details about making an LPA, please get in touch today.
If you would like to make an LPA, whether it is a Property and Financial Affairs LPA or a Health and Welfare LPA or both, we can help.