An LPA allows you to appoint an individual who will be your legal representative if declining mental or physical health leaves you unable to manage your own financial wellbeing.
If only life was straight forward but unfortunately it rarely is, and nobody knows what is around the corner. Many assume that when they fall ill their family and loved ones will be able to make important decisions on their behalf and access their finances to assist with medical care and treatment.
However, this is not always possible, but by setting-up an LPA you authorise someone - your attorney - to manage your personal affairs, including your property and finances, in the event that you lose mental capacity and are unable to make decisions yourself.
You are not relinquishing control by setting-up an LPA, you are merely planning for the future should the need arise. There are two types of LPA to consider: one for financial matters and another that covers your welfare.
To speak with one of our Estate Planning Experts about LPA, you can either use our matching engine or complete the quick contact form and one of our experts will call you back. Please note that the initial consultation is free and without obligation.