When someone thinks about having their affairs in order, they usually think about making a Will. However, we often forget that a Will only takes effect after a person has died. We often overlook the importance of making sure our affairs are in order whilst we are alive. What happens if you are not able to manage your day to day affairs? This could be due to a terminal illness, an accident, or simply old age. Unfortunate and unforeseen events can occur at any point in our lives. We, therefore, need to ensure that we have a legal document which will allow chosen individuals (known as attorneys) to step in, if and when required during our lifetime.
A Lasting Power of Attorney (LPA) is a legal document which allows you to appoint an individual or individuals who will be able to make decisions on your behalf if you are unable to manage your own affairs. An LPA is the best way of allowing your chosen attorneys the ability to make decisions on your behalf.
There are two types of LPAs. One type of LPA is for your property and financial affairs. This document allows your chosen attorneys to make decisions in relation to your property (such as buying and selling) and also manage your daily finances, such as paying bills, managing bank accounts etc.
The second type of LPA is for your health and welfare. This enables your attorneys to make decisions in relation to your health. For example, they will be able to make decisions on end of life treatment, day to day medical decisions, your care, and residence.
If you require assistance or further advice in relation this, please do not hesitate to contact our dedicated private client team.
Email: hereford@gabbs.biz
Telephone number: 01432 353481
