LASTING POWERS OF ATTORNEY
Our team at Kindred Estate Planning has seen first hand the benefits of having Lasting Powers of Attorney (LPAs) in place.
Briefly, there are two types of LPAs; one for your Property and Financial affairs and another for your Health and Welfare. The Finances LPA document will enable your Attorney(s) to manage your financial affairs should you be unable to do so yourself. This can include if you lose your mental capacity and also if you retain your mental capacity but simply require some help. This depends on the options you choose in your document and we would help you with this decision when preparing such documents.
The Health LPA document can only be used in the event that you lose your mental capacity. It can cover a whole range of welfare issues, including, but not limited to, life-sustaining treatment.
WHAT IS AN
An Attorney is the person you nominate to look after your affairs whilst you are alive.
You can have more than one and also have a replacement who will step in if something happens to you initial Attorney.
I DON'T HAVE A POWER OF
If you lose your capacity and didn't get around to making an LPA, in some circumstances we can apply to the Court of Protection for a Deputyship Order but the process is very costly and very lengthy.
WHAT IF I HAVE AN ENDURING POWER OF
If you have already made an EPA, provided that it has been signed correctly, it will still be valid. However, your EPA will only cover your financial affairs and will not cover your Health and Welfare.
We all hope that we won't need any support but it is essential we plan in case we do. If you wish to discuss LPAs in more detail please click here.