Plan for your future
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.
The benefits of having a Lasting Power of Attorney
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:
LPA for property and financial affairs
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:
- Pay your mortgage and bills
- Buy and sell property
- Invest money
- Collect wages, pensions or benefits
- Arrange property repairs
LPA for Health and Welfare
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:
- Where you live
- Your medical care
- Your day to day schedule (who you see, what you do)
- Your diet
- Accepting/ refusing life-sustaining treatment for you
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.
Who can I choose to be my attorney?
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.
We are here to help
At Osborne Morris & Morgan, we are a friendly team of award-winning legal professionals, who are nationally recognised experts in our fields.
We offer specialist legal advice in Personal Injury, Medical Negligence, Wills, Trusts & Probate, Court of Protection and Conveyancing.
Whatever your needs or circumstances, our solicitors can make a difference.
Speak to our specialist Wills, Probate & Powers of Attorney team today.
Either call us on 01525 378177
or complete the contact form opposite.