Lasting Powers of Attorney
Planning ahead in life is always sensible and for many people, the New Year heralds a time when they want to get their affairs in order. A top priority therefore should be to consider well before the time comes, who should make decisions on your behalf should you ever be in a position when you are no longer able to make them for yourself.
So what are the options? A Lasting Power of Attorney (LPA) allows you to appoint someone to make certain decisions on your behalf regarding anything from your finances to health and welfare.
There are a number of reasons that you may wish to make an LPA:
- It can help to prompt a discussion with your family or others about your future wishes.
- It ensures that the person whom you want to make the decisions for you, will be able to do so in the future.
- It prevents disagreements and perhaps someone you may not fully trust from having any power over decisions made on your behalf.
- It is reassuring to know that someone can make decisions for you if you are unable to.
You can choose anyone you wish to be your attorney. Most people will choose a relative or close friend, but you can also ask a professional such as a solicitor. You can also choose to have more than one attorney, in which case you must decide how your attorneys will act. They can either make decisions together or they can act separately, or a combination of the two.
Alex Astley comments: “LPA’s are very important but are often overlooked. I think it is really important and also gives people great peace of mind to know that their future wishes are going to be carried out as they would like. I would advise clients to seek legal advice if they are unsure about how to make an LPA or have questions about who to appoint.”