Lasting Power of Attorney

Making a LPA is just as important as making a Will as they serve two separate purposes and should not be considered as either/or. LPAs relate to management of your affairs during your lifetime, whereas Wills relate to the distribution of your estate following your death. There are two types of LPA's that can be put in place:

 

  • Health and Welfare - which appoints an attorney to make decisions regarding medical care needs such as moving into a care home, and life-sustaining treatment;
  • Property and Financial Affairs - which appoints an attorney to make decisions regarding managing a bank account and investments, paying bills, collecting benefits or a pensions and buying and selling property. 

 

It is possible to draw up just one or both types of LPA and the same attorney(s) can be appointed for each. If you are a business owner, it is important to consider what would happen if you were unable to make decisions. Without a business LPA in place there may well be issues with bank account signatories, paying creditors and employees and contractual obligations. 

 

Sadly, loss of capacity can happen to anyone at anytime - due to factors that are often completely out of our control. Putting in place a LPA while you are fit and healthy gives you piece of mind that, if necessary, decisions concerning your welfare and financial affairs are being overseen by someone you trust and who will be acting in the best interest of you and your family. 

 

At Lentells Estates and Probate Services, we can assist with both the procedure of completing the necessary paperwork as well as advising on all the areas you need to consider ensuring the LPA covers all possible eventualities. If you are writing or amending your Will it makes sense to consider putting a LPA in place at the same time. Alternatively this can be done as a separate exercise at a time to suit you. 

 

To find out more about LPA's, please contact:

Rob Wegner at our Chard office on 01460 64441 robert.wegner@lentells.co.uk

Mike Griffiths at our Seaton office on 01297 25084 michael.griffiths@lentells.co.uk 

Philip Bedford at our Taunton office on 01832 286274 philip.bedford@lentells.co.uk