Who would speak for you if you were not able to manage your own affairs, say due to accident or illness?
The answer is not as straightforward as you might think. Even your husband or wife might need the court’s permission to access even your joint bank accounts, thanks to new, tighter regulations. There is a solution and that is to draw up Lasting Powers of Attorney (‘LPAs’) while you are able to.
With an LPA you can transfer the running of your affairs to a third party, called an ‘Attorney’. Often this is a spouse or close relative, but it could be a professional representative or trusted friend. You can write different Lasting Powers of Attorney to cover Health & Welfare matters and your Property and Financial Affairs.
There are some important issues to consider (not all of which are obvious), but once in place an LPA will save your loved ones a great deal of time, expense and worry when life is complicated enough. We can guide you through the entire process, including the registration paperwork.
Whilst you’re thinking of assigning an LPA, why not review and update your will? We offer discount packages to individuals who update their will and make an LPA at the same time.