Why everyone over the age of 18 should make Lasting Powers of Attorney…
Paralegal, Kay Brown, explains:
"Whenever I’m taking instructions for a Will, I always ask if the client has made or thought about making Lasting Powers of Attorney (LPAs) and always get a similar reply; “Oh I’m not old enough yet” or “No, I’m not planning on losing my marbles anytime soon”. I always then go on to explain to them why making them shouldn’t be about your age or that once they have “lost their marbles” it’s too late to make one. Here are some good reasons why anyone over 18 should make LPAs..."
Lasting Powers of Attorney (LPAs) are legal documents that allow individuals to appoint trusted people to make decisions on their behalf if they become unable to make decisions for themselves. Here's why it's advisable for adults over 18 to consider creating LPAs:
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Illness or Accidents: Unforeseen illness, for example a stroke, or accidents can happen at any age, which could lead to temporary or permanent incapacity. LPAs make sure that someone you trust can manage your affairs if you're unable to do so. Creating LPAs is not just for older adults; it's important for anyone over the age of 18 to consider making, regardless of their health. Having LPAs in place ensures that you are prepared for the unexpected and have measures in place to protect your health and welfare as well as your finances and assets.
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Management of Finances: LPAs for property and finance allow your attorney to take care of your financial affairs, including managing investments, paying bills, and even sell your property if it became necessary.
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Health and Welfare Decisions: LPAs for health and welfare gives your attorney the power to make decisions about your living arrangements, medical treatment, and care based on your specified wishes and best interests.
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Avoiding Delays and extra Costs: If you become incapacitated for whatever reason without having made LPAs, your loved ones may need to apply to the Court of Protection for deputyship, which can very expensive and extremely time-consuming. Having LPAs in place makes dealing with your finances and making the right decisions about your health and welfare much easier for your loved ones from the moment these decisions are needed.
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Taking Control of Your Future: LPAs allow you to choose who will make decisions for you if you become incapacitated rather than leaving it to chance or legal processes giving them the power to take care of you in the way you want. LPAs can be tailored to your specific needs and preferences, allowing you to specify your preferences and instructions for your attorneys to follow.
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Changes in Circumstances: Your LPAs can be revoked at any time as your circumstances or preferences change, providing flexibility and adaptability.
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Peace of Mind: Knowing that you have appointed someone you trust to make decisions on your behalf can provide peace of mind for both you and your loved ones.
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Preventative Measure: Putting LPAs in place while you're still capable ensures that your wishes are known and respected if you lose capacity in the future. Without LPAs, decisions about your finances, health and welfare may be left to the Court of Protection.
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Legal Requirements: LPAs must be made while you still have mental capacity. If you wait until a crisis occurs this may result in you not being able to create these documents when you need them most.
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Avoiding Family Disputes: Having LPAs in place with clear wishes and instructions can help prevent disagreements among family members, or loved ones, about who should be able to make decisions on your behalf. By appointing attorneys and stating your wishes and preferences in advance, you reduce the likelihood of disputes and ensure that your loved ones can focus on supporting you during difficult times.
Creating Lasting Powers of Attorney is essential for planning the future. They offer protection and peace of mind for adults of all ages, ensuring their finance, assets, health and welfare are managed in accordance with their wishes at a time when they are unable to do so themselves.
If you would like to discuss LPAs in more detail,
please do not hesitate to call us on 0116 212 1000
