Gilbert Stephens @ Crediton Rotary Club

We are looking forward to joining the Crediton Rotary Club this evening at which Conall Ryan will be talking about Lasting Powers of Attorney.

Lasting Powers of Attorney (LPAs) are important documents to have in place, as they can provide invaluable security and peace of mind for individuals. LPAs allow a person to plan ahead, so that should they become unable to make decisions regarding their finances and/or health and welfare at some point in the future, they have the person or people who they trust, known as attorneys, to legally manage their affairs on their behalf, setting out any preferences or instructions they have. There are two types of LPAs, being one for financial affairs and, the other, for health and welfare. Once registered the LPAs are ready to be used straight away if needed.

If a person does not have LPAs in place, and they lose capacity, it would be necessary for someone, such as one of the relatives or friends of the person who has lost capacity, or even the local authority, to make what is known as a Deputyship application. A Deputyship is not normally granted for health and welfare, due to the personal nature. There are also various other implications and complexities, when a Deputy is appointed, including but not limited to, the initial application taking several months, the costs involved running into several thousand pounds, needing to set up a security bond and pay an annual fee.

By having LPAs in place, it is a bit like having an insurance policy as you have set out who and how you would like things to be dealt with should the worst happen, it gives peace of mind not only to you but also your loved ones that you have things in place to make sure your affairs can be dealt with as smoothly as possible at this difficult time. People tend to think that these are only needed by people who are of the older generation or if they have been diagnosed with a certain condition but people of all ages should set these up.