With the average life expectancy continuing to rise, it is increasingly important to consider life time planning. Taking steps to ensure your financial affairs, future healthcare and welfare needs are in order will support and guide your relatives or friends in their care for you, should you require their assistance in the future.
By doing so, you can help your relatives avoid spending needless time and expense on your estate in making a formal court application. We can help you to take these steps through the preparation of Lasting Powers of Attorney or a Living Will.
From 1 October 2007, Enduring Powers of Attorney were replaced by Lasting Powers of Attorney (“LPAs”).
There are two types of LPAs:
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.
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 has a narrower scope than a Health and Welfare LPA.