An LPA, or lasting power of attorney, is a legal document allowing a person to appoint one or several persons, to act and make decisions on their behalf should they one day lose the mental capacity to do so for themselves.
An attorney or an appointed person can be selected by the donor or the person providing the special power in two areas, property and affairs, and personal welfare matters.
One of the main benefits of a lasting power of attorney is that it lays down the preparations for the protection of your assets should you one day become vulnerable. This legal document also enables you to make personal, considered choices of trusted proxy decision-makers whom you’ve appointed and who is competent and reliable enough to act on your behalf and in your best interests. An LPA likewise removes the difficulties and stress of loved ones who may need to apply for deputyship in the event of your mental incapacity if you failed to put an LPA in place.
People usually arrange LPAs at the same time as arranging their will during estate planning. An LPA is an important consideration when deciding to plan for the future of your wealth and assets. In arranging an LPA, one of the first things you should think about is the best person to appoint as attorney done — someone trustworthy who would undoubtedly act in your best interest should the unthinkable happen. Finding the right estate planning advisor or a legal specialist to help you draw up your will, lay down your estate plans, and register your lasting power of attorney is critical so you can be properly guided as you go through the application processes as well as to provide you with accurate knowledge and instruction as you plan your estate.
MVL Wills and Trusts of Battle, East Sussex, can help you with their will writing and planning experience, and advice. A consultation is free and can be held at our offices or in the comfort of your own home. Call 01424 577070 or email info@mvlwillsandtrusts.co.uk for an appointment.