Having Lasting Powers of Attorney (LPA) prepared is something to do sooner rather than later, and is certainly not to be left until you feel it might be needed. Too often a situation arises where a person cannot manage their own affairs but is not able, due to incapacity, to have one prepared. This can then result in the matter being placed in the hands of the Court of Protection.
To avoid this LPAs should be prepared in good time appointing who you wish to manage your affairs should the need arise.
There are two forms of LPAs, one dealing with Finance and Property and the other Welfare and Health. It is a personal choice whether you have both but you should certainly have the finance one.
If you are contemplating making or changing a Will, then that is a good time to have LPAs drawn up. Should you have a current Will then consider the advantage of seeking advice on LPAs.
We have prepared countless LPAs and are conversant with exactly what you need to consider when having one prepared and can offer expert guidance in this respect. Just contact our Private Client department who will be happy to discuss your circumstances and provide you with an estimate of the costs involved.