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Powers of Attorney
Planning for times when you may not be able to manage your own finances or welfare.
Lasting Powers of Attorney (LPA) are key documents for this planning, taking two main forms.
1. Finance Lasting Power of Attorney
- Allows trusted family or friends to manage your finances if you lose capacity.
- Without it, a Court of Protection deputyship is required, which is costly and time-consuming.
2. Welfare Lasting Power of Attorney
- Allows appointed individuals to make welfare decisions on your behalf.
- Without it, healthcare professionals, such as doctors and care workers, make decisions they believe are in your best interest, which may not align with your wishes.
Key considerations
- Both LPAs must be registered, which can take a few months.
- Online LPAs are cheaper but may not be suitable for complex circumstances.
- Professional LPAs can be bespoke, including tailored clauses and future-proofing for changing circumstances.
Next steps
To learn more about LPAs, attend a free seminar or book an appointment.