Many clients worry about what happens if they can’t make decisions for themselves. Lasting Powers of Attorney (LPA) give peace of mind that your affairs will be looked after in a seamless way, and decisions will be made by people you choose, and trust.
There are two types of LPA: one to look after your Property & Affairs, and the other to focus on Health & Welfare. Therefore, a married couple are looking at four LPAs in total. The time to set them up is before they are needed and whilst you can still make decisions for yourself.
In the unfortunate and very difficult event, someone loses mental capacity, this can cause untold issues, difficulties and in some cases heart ache for their loved ones.
Having seen this position first-hand with clients, those that have made provision via LPAs have a great deal less stress and their chosen attorneys can step in immediately, without further red tape and delay.
Without LPAs, I have also seen the other side of the coin where court of protection is required. This is more longwinded and often more costly, from a financial and emotional point of view. The decisions on immediate healthcare and social needs are not in the hands of your nearest and dearest until court of protection is granted for the appointed deputies, which can take months.
At Elevation, we specialise in LPAs, Family Protection Trusts and Will Planning. If these are areas you would like to know more about, please contact us and we will arrange an initial, no-obligation consultation, at our cost. This will outline the areas we feel you should consider, the associated process and related costs.
Please note, this does not constitute for advice and is for information only.