As the population of the UK gets older, there is an increasing need for the elderly to be able to have their affairs and decisions looked after by family or friends. A lasting power of attorney (LPA) can make these situations more straightforward and provide the peace of mind that decisions over an individual’s welfare are being taken by well placed individuals and not by the authorities or the Courts.
There are two types of LPA:
A LPA does not allow an Attorney to make a will on a person’s behalf or to make large and generous gifts to anyone from their estate.
At all times the Attorney has to act in the person’s best and sole interests. If there is no LPA in existence and a person becomes incapacitated, any decisions regarding their estate could only be made by the Court of Protection. This can be a time consuming and expensive process with all costs being paid from the estate.
We recommend that everyone with property and investments should make an LPA and our free guide can be obtained by downloading it from this website.
DOWNLOAD OUR FREE GUIDE HERE
Regulated and authorised by the Solicitors Regulatory Authority (SRA number 362944)