A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint one or more persons to help you make decisions in the future regarding your welfare and financial arrangements should you have an accident, an illness or loose the mental capacity to make your own decisions.
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.
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.
LENTELLS PODCAST
Attorney
Episode Two of the Lentells podcast talks about Wills, Lasting Power of Attorneys and Probate. To listen to the Lentells Podcast please go to the podcast page of our website.
