Life can be unpredictable. To help you do this, we can arrange for a Wills 4 Less Lasting Power of Attorney enabling someone who you trust to take care of things when you can’t.
It’s a question few people think to ask until it’s too late. Life is uncertain you can be struck by an accident, become ill or grow old and suddenly it's just not possible to take care of some (or any) of your own financial affairs anymore.
In such moments, a Lasting Power of Attorney (LPA) for property and financial affairs can mean the difference between peace of mind and months (or years) in which your loved ones are driven to legally battle. More details can be found at https://amersham.wills4less.co.uk/lasting-power-of-attorney-property-finances/
What is an LPA for Property and Financial Affairs?
What is a Lasting Power of Attorney for Property and Financial Affairs?A Lasting Power of attorney for Property and Financial Affairs (LPA) is a legal document that lets you to nominate another person (called your ‘attorney’) to make decisions about your money and property, on your behalf. This can involve operation of your bank accounts, and billing people out of property or looking after other aspects of your financial life.
The Property and Financial Affairs LASTING POWER OF ATTORNEY (LPA) enables the person you appoint, your attorney, to make decisions in YOUR best interests if you are incapable of doing so because of an illness/accident or perhaps old age. It’s a critical document that can help safeguard your assets and smooth the way for handling of financial matters.
A lot of people think their husband or wife or children can easily “step in” if necessary but, legally speaking, they cannot. If you don’t have an LPA in place, your family could be forced to undergo a time-consuming and expensive court procedure just to obtain the authority to handle your financial affairs.
Here are some issues we hear clients talk about at Will 4 Less:
It offers peace of mind that it will be someone you trust rather than a stranger or court-appointed deputy calling the shots. And it’s not just for old folks it’s for anyone who wants to be prepared.
Most people think their spouse or nearest relative can make decisions on their behalf if they’re no longer able to do so because of a medical condition. Without a Lasting Power of Attorney, your would have to apply through the Court of Protection in order to be able to act on your behalf. It can be a long, costly and emotionally takes-tolling process.
Something like this could happen to you: You have a stroke and are no longer able to communicate or make decisions for yourself. Your partner attempts to log on to your bank account and pay your bills or mortgage, but finds they can’t. Your savings are locked down, direct debits bounce and debt collectors come calling. It’s a shame that all this stress could have been avoided with a LoPA in place.
When Can I Do a Lasting Power of Attorney Property and Financial Affairs?
The simple answer is now. The sooner you can arrange your Lasting Power of Attorney, the more options are open to you, and the lower the risk of something changing quickly in your life that leaves you vulnerable.
Think about suffering loss of capacity – perhaps as a result of a stroke, dementia or severe accident – without having arranged for a Lasting Power of Attorney. Your family could be left powerless to access joint accounts, pay bills or make critical financial decisions on your behalf.
Planning in advance makes sure they have legal authority to do so to protect your financial health without delays of court.
It is extremely important to pick the right person in choosing your attorney. You want someone who:
You may also be able to name more than one attorney, and even have a back-up attorney, just in case. You can also use the document to give them guidance or even restraint.
At Will 4 Less, we have trained to help you make these decisions and think them through clearly.
Life is unpredictable. No one knows what the future holds. Making an LPA for Property and Financial Affairs today provides reassurance that, should something unexpected happen to you, someone you trust will take over your financial affairs instead of leaving it to the courts.
The cost of creating an LPA is a small price to pay in comparison to stress and financial outlay if it ever ended up going through the courts. At Will 4 Less, we provide low cost ways to make an LPA so you can have the assurance you need without spending a fortune.
If you subsequently decide that the Lasting Power of Attorney is no longer what you want, you can revoke or amend it at any time and for so long as you have mental capacity to make that decision.
Can I appoint more than one attorney? You may allow them to act as a united front or give them orders without consulting the other. There are fallback attorneys, too in case something happens and the first attorney isn’t able to serve.
At Will 4 Less we appreciate the emotional nature of producing a lasting power of attorney. Our team:
Ready to Safeguard Your financial future?
Make Lasting Power of Attorney with Will 4 Less today. Our warm staff are here to help you make this important decision with the utmost care, respect and skill.