Lasting Power of Attorney

A power of attorney gives someone you trust the legal authority to make decisions on your behalf if you’re unable to – for example, if you need to go into hospital for a while, or if you have an accident, stroke or are diagnosed with dementia. It means the friend or relative you choose – your attorney – can help with paying everyday bills, managing your finances or making decisions about your health.

There are two types of LPA. A Property and Financial Affairs LPA lets your attorney handle your bank accounts, investments, bills and property, while a Health and Welfare LPA is concerned with decisions about your health and care. A Business LPA is also available – a specific version of the Property and Finance LPA with additional wording focused on business-related decisions. If you own a business, this can prove invaluable as it means it can carry on paying suppliers and maintaining operations even if you’re unable to make crucial decisions.

Without a Lasting Power of Attorney in place, your family would have to apply to the Court of Protection to have a deputy appointed – which can be a slow and very expensive process. It can also mean any joint bank accounts you hold with your partner could become severely restricted, which could be devastating if they rely on them for their income or pension. That’s why it’s worth thinking about putting an LPA in place as early as possible.

See how we can help you put an LPA in place - contact us below.