With the average life expectancy continuing to rise, it is increasingly important to put in place Lasting Powers of Attorney (LPA).
By doing so, you can help your relatives avoid spending time and expense in making a formal court application to the Court of Protection.
The existence of an LPA will avoid the need to make an application to the court to appoint a Deputy if you lose capacity and have not put an LPA in place. This can be a cumbersome, stressful and time consuming procedure which will involve ongoing administration and expense. We can help you to take these steps through the preparation of LPA or a Living Will.
From 1 October 2007, Enduring Powers of Attorney were replaced by Lasting Powers of Attorneys.
Property and Financial Affairs LPA
This type of LPA allows you to give power to a person or persons (“Attorney”) that you choose and trust over your financial affairs, should you become unable to do so. They can also be effective if you live abroad and have UK assets which an Attorney can deal effectively with on your behalf.
Health and Welfare LPA
A Health & Welfare LPA enables you to give power to an Attorney to make decisions relating to your welfare and healthcare, but only if you lack mental capacity to do so yourself. You can also decide whether you want them to be able to give or refuse consent to life-sustaining treatment on your behalf.
Alternatively, you may wish not to put in place a Health and Welfare LPA. Instead, you may wish to have a Living Will (or Advance Directive). Living Wills provide medical professionals with your wishes when you are suffering from a terminal illness or in deathbed situations.
However, a Living Will is narrower in its scope than a Health and Welfare LPA.
Please contact us if you have a query relating to privatising your wealth. We will check whether we can act for you and, if so, we will confirm the terms and conditions of our retainer with you in a client care or engagement letter
If you require advice, ring our Private Wealth department and arrange a meeting with a member of our team
We understand that when you experience significant changes in your personal life, you will need someone to give you sensitive advice with a professional approach
Please contact a member of the Private Wealth Team.
We are happy to help you on all aspects of Lasting Powers of Attorneys and Living Willscontact
By putting in place a Will you can ensure that your estate passes according to your wishes on your deathfind out more