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Looking after your affairs
With the theme of this year’s Dying Matters awareness week being ‘are we ready’, we are looking at some of the preparatory steps which can be taken before it’s too late.
As we looked at earlier this week, unless you want to leave a financial tangle behind for your bereaved relatives to sort out after you’ve gone, it is crucial to make a Will sooner rather than later.
Creating a Lasting Power of Attorney (LPA) means that if you have an illness/accident that leaves you unable to take care of things yourself, there will be a legal document in place enabling you to give another person(s) authority to make certain decisions on your behalf.
There are two types of LPA:
- A property and affairs LPA – allowing your attorney authority to deal with your property and finances as you wish
- A welfare LPA – allowing your attorney to make welfare and healthcare decisions on your behalf, when you lack mental capacity to do so yourself. If you wish, this can also be extended to give or refuse consent to the continuation of life sustaining treatment.
Without an LPA, if you do lose capacity at any age, your financial and personal affairs will have to be managed by a deputy appointed by the Court of Protection, which can be both costly and time consuming.
Our experienced wealth management team can help you to get your affairs in order. Call 01392 207020 or email firstname.lastname@example.org to get in touch.