Who do you want to make decisions for you and have they got the power?

PLANNING...

Who do you want to make decisions for you and
have they got the power?

This week we are focusing Lasting Powers of Attorney. 

Not everyone understands the importance of having a Lasting Power of Attorney in place and until the time comes, when an LPA is required, many don’t know what they are needed for.

If you were in the unfortunate situation where you had lost capacity, whether that be temporarily or on a permanent basis, who would you want to make decisions for you? Who would you trust to make the decisions that you would have if you had been able to?

Unfortunately, just because you are married it does not give your spouse the automatic right to make decisions for you, whether in relation to your health and welfare or your finances!

And…what about your business? If you own your own business, what would happen to that? Who would step in and would they have the power to?

Again, your second in command may not have the power and authority to make decisions, in relation to your business, if you are unable to do so and your spouse may not be able to either. 

So, where does that leave you?

  • If you have a business:

Check out our article, Should I have a Lasting Power of Attorney in place to protect my business?

  • To protect your finances and property affairs and ensure that someone that you trust to make the decisions that you would want to make if you are unable to:

Have a think about:

  • Who you would want to take decisions on your behalf in relation to your home, property, cash, bank accounts, investments and financial affairs if you were unable to.

Consider putting a Property & Financial Affairs Lasting Power of Attorney in place.

  • To give you peace of mind in relation to your health and welfare:

Have a think about:

  • Who you would want to take decisions on your behalf in relation to your health, medical care, welfare, day-to-day living and activities if you were unable to.

Consider putting a Health & Welfare Lasting Power of Attorney in place.

A Lasting Power of Attorney is required during your lifetime so that someone can make decisions for you when you are unable to make them for yourself.

A Lasting Power of Attorney allows you to appoint someone that you trust to make decisions for you, if you lose mental capacity or are unable to make decisions for yourself.

 

If you would like to discuss putting a Lasting Power of Attorney in place, call us on 01727 865 121 or email us at info@TotalLegacyCare.co.uk for a free discussion on how we can help.

Leah Waller

Got a Question or want to book a FREE Consultation?

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