An LPA for property and financial affairs enables you to appoint attorneys to assist you with the managment of your affairs, including writing cheques and paying bills, selling or renting out your property and carrying on your trade or business.
Your attorneys may act on your behalf whilst you still have mental capacity (for example, if you are physically unwell and unable to leave the house). Alternatively, you may restrict the use of the power, so your attorneys cannot act unless you become mentally incapable of managing your affairs. The latter option is more restrictive.
LPAs aren't just for the elderly. Unfortunatley, anyone could suffer ill health or have an accident unexpectedly. There is a popular belief that relatives (including spouses or civil partners) can access your bank accounts if you lose capacity, but this is not the case. Due to data protection laws, no one can access your accounts if you lose capacity, unless you have prepared an LPA. This makes life very difficult for loved ones, at an already stressful time.
An LPA is a permanent document, so you may only need to make one in your lifetime. It is well worth having, for peace of mind, if nothing else.
An LPA is just as important as a will, and they are often made at the same time.
At My Will My Choice you can make a will and LPA by telephone anywhere in England and Wales from only £99.
Visit us at www.mywillmychoice.co.uk for an initial telephone conversation with our experienced will writer and estate planner (a former solicitor with over 10 years' experience).