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Plan Ahead with Lasting Powers of Attorney

Posted in: News | July 28, 2014 at 10:57

Plan Ahead with Lasting Powers of Attorney

Statistics show that one in three individuals over 65 develops dementia. That figure alarmingly represents a third of the over 65s.

Many people assume that their spouse or child would be able to make decisions for them if they lacked mental capacity. This is simply not true.

Unless you have made a Lasting Power of Attorney (LPA), your loved ones cannot make decisions on your behalf if you lack mental capacity. Instead they would have to apply to the Court of Protection for permission, a time consuming and costly process.

What is an LPA?

An LPA is a legal document that enables you to appoint people you trust (called Attorneys) to make decisions for you when you do not have mental capacity as defined by the Mental Capacity Act 2005.

There are two types of LPA:

  1. Property and Financial Affairs LPA – your Attorneys can pay your bills, collect your benefits and manage your investments amongst other things.
  2. Health and Welfare LPA – your Attorneys can make decisions about your care and medical treatment and much more.

You can only make a LPA when you have mental capacity.

Is an LPA necessary?

If you do not make an LPA and you lose mental capacity – this can occur through accident as well as illness – your loved ones would have to apply to the Court of Protection to become a ‘Deputy’. This is a lengthy and expensive process.

It’s uncomfortable to think that there may be a time when you are not in full possession of your mental faculties. Yet it is extremely important you plan ahead and make arrangements so that people you trust are able to make decisions for you should such a situation arise.

If you lose your mental capacity, it will be too late to make an LPA.

What to do next?

A simple chat with us is all that’s required to help you nominate someone under a Lasting Power of Attorney. You can speak to one of our legally qualified Consultants by calling 0208 991 3398. Alternatively you can contact us via email on our Contact page.

Ashton Grace – Specialists in Peace of Mind

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