ARTICLES

Lasting Power of Attorney

we have set out below our FIVE top reasons for getting your LPAs in place. This is, of course, just the tip of the iceberg and there are many many more reasons but these should be enough to prompt you…

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Now, Martin Lewis the Money Saving Expert has been in trouble with the press recently as he has said that LPAs are more importantly than Wills. This caused huge controversy and saw the expert having to justify himself over-and-over on social media.

 

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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?

 

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With so many applications made, it is clear that the importance of putting an LPA in place is recognised by many but why are so many applications not registered?

 

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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.

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Everyone’s circumstances are different and so timing will be different for everyone. Everyone’s lives take different paths and at different ages and there is no one rule that will fit for all.

 

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This will depend on how soon the diagnosis takes place and whether the individual that has been diagnosed has lucid or ‘good’ days and is still of sound mind.

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There may be circumstances in which you are unable to make commercial decisions and if that should happen, have you considered what would happen to your business?

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