What is a Lasting Power of Attorney?10th May 2018
Lasting Powers of Attorney (often called LPAs) are a vital part of everyone’s estate planning. When you make a Will you are putting your affairs in good order in the event of your death, and part of that process is to choose the people who will oversee that process. Some would say that it is even more important to choose who will make decisions on your behalf and administer your finances during your lifetime if you become unable to do so yourself. That is the vital job which Lasting Powers of Attorney can do for you.
This is why we recommend to all of our clients that they sign both a Lasting Power of Attorney for Property and Financial Affairs and a Lasting Power of Attorney for Health and Welfare. These have to be done as two separate LPA’s but that may be an advantage as the people who will make the best job of looking after financial matters may not be the same as those who you would like to make decisions about where you live and what care and medical treatment you need.
Find out more by contacting our team at Gilbert Stephens 01392 424242