The future is unpredictable, but with planning, there are things you can do to protect you and your family.
The future is unpredictable, but by planning ahead, there are things that you can do to protect you and your family.
As well as writing your Will, organising a Lasting Power of Attorney (LPA) will protect your estate in the event that you cannot make decisions for yourself.
A Lasting Power of Attorney is a legal document that allows you to plan what should happen to you and who can make decisions for you, if you lose mental capacity in the future.
Our dedicated teams offer specialist legal advice in the areas of Court of Protection, Lasting Powers of Attorney, Medical Negligence, Personal Injury, Personal Injury Trusts, Probate, Residential Property and Wills.
Without a Lasting Power of Attorney, your family and friends may not know your wishes and may find it difficult to manage your affairs. If you lose your decision making ability, you need an LPA in order for somebody to legally make decisions or deal with your sole assets for you. If you do not have an LPA a Deputyship application would then need to be made to the Court of Protection, which can be a costly and time consuming process.
There are two types of LPA:
A property and financial affairs attorney can make decisions about your assets and finances on your behalf. This can be used when you simply no longer wish to make decisions about your financial affairs, even though you may still have the mental capacity to do so.
You can empower the person/s you choose to:
A health and welfare attorney can make decisions about your health and living arrangements. It can only be used when you are no longer able to make those decisions yourself.
You can empower the person/s you choose to make decisions about things such as:
You can have one or both types of LPA, and you choose the extent of the attorney’s powers. You can also select different attorneys for each type of LPA if you wish, and you can also appoint replacement attorneys.
Your attorney can be anyone over the age of 18. People often choose a partner, member of the family, a friend or a professional. It is important you trust your Attorney to understand your wishes and make the best decisions for you.
Being an attorney is an immense responsibility and they must feel comfortable, and able, to make potentially life-changing decisions on your behalf.
You may choose to split this responsibility between more than one person. You can choose if they act jointly, or ‘jointly and severally’, meaning they can make decisions on their own, without agreement from the other attorneys or jointly on some decisions and jointly and severally on other decisions.
Did you know that Osborne Morris & Morgan can act as your professional Attorney through the Osborne Morris and Morgan Trust Corporation? Get in touch today to see how we can help.
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With the head office in Leighton Buzzard, Osborne Morris & Morgan Solicitors acts for people locally, in the surrounding Home Counties and throughout the UK.
Osborne Morris and Morgan Limited is authorised and regulated by the Solicitors Regulation Authority.
SRA number: 815734
Company Number: 12622717
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