MYTH

“MY HUSBAND/WIFE CAN LOOK AFTER MY FINANCIAL AFFAIRS IF I CAN’T – I DON’T NEED A LASTING POWER OF ATTORNEY”

VS

FACT

Having a Lasting Power of Attorney (LPA) is highly important for several reasons, not least because should you lose capacity without one, many key decisions relating to your assets, health, bills etc. could not be made until lengthy and costly steps are taken.

  1. Decision making in case of incapacity: In the event of the loss of mental capacity without adequate provision having been made, your affairs cannot be administered on your behalf and even assets in joint accounts may become locked until a costly and sometimes lengthy application to the Court of Protection for an Order can be made.
  2. Decisions by those who know you and know what you would want: An LPA allows you to appoint someone you trust as your “attorney” to make decisions on your behalf if you become unable to do so due to mental or physical incapacity. Without doing so, any individual could be appointed by the Court and you may not have approved of them handling your personal affairs
  3. Healthcare decisions: A Health and Welfare LPA enables your chosen attorney to make binding decisions about your medical treatment, care, and other personal matters. Without such power, no-one will have the final say and siputes can arise which would need the Court to resolve
  4. Financial management: With a Property and Financial Affairs LPA, you authorise your attorney to handle your financial matters, such as managing bank accounts, paying bills, collecting benefits, and making investments on your behalf. Owing to Data Protection and other rules, no-one will be able to help you without such a provision.
  5. Personal autonomy and peace of mind: By creating an LPA, you have the opportunity to express your wishes and preferences in advance, ensuring that they are followed if you become incapacitated.

HOW CAN WR HELP?

Planning for the future is key to the advice and services we provide and Lasting Powers of Attorney are strongly recommended to all our clients.

Our lawyers are highly knowledgeable in this problematic area, and are able to provide cost-effective solutions to you.

WE'VE GOT YOUR BACK!

If you need assistance, more advice on the above or support with any other legal issue, We've Got Your Back

If you have an enquiry, Call us on 01254 67 22 22, email enquiries@watsonramsbottom.com, talk to us via live chat or complete our contact form and one of our experts will contact you.

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