A New Year allows everyone time to take stock and re-evaluate our lives. It is the time when planning for the future becomes all the more important.
Throughout the months of January and February 2017, Jefferies are offering a 20% discount to our fees in relation to Lasting Powers of Attorney (LPAs).
A vital part of all future planning is to work out who you would entrust to assist you with your financial affairs or to take important health and welfare decisions when you are no longer able to do so. Lasting Powers of Attorney provide you with piece of mind by ensuring that your affairs will be looked after during a time when you need support or assistance.
Many clients initially question whether they would be giving away their own autonomy by making LPAs but this is simply not the case. Whilst you are mentally competent, you are able to make your own decision and this can include making the decision to authorise a loved one or close friend to help you with your financial affairs.
There are two types of LPA, namely one for property and financial affairs and one for health and welfare. The main difference between the two is that the health and welfare LPA can only be used if the donor (the person making the LPA) lacks the mental capacity to make their own decisions whereas the property and financial LPA can be used, once registered, straight away by their attorneys (the person or people appointed to act on behalf of the donor) with the consent of the donor.
Your attorneys have a duty to act in your best interests under the LPAs in accordance with the principles contained in the Mental Capacity Act 2005.
LPAs do not mean that you would be allowing your attorneys unlimited control over your affairs but it provides you with the option that they could step in should you need them to do so.
I always tell my clients that LPAs act as the best insurance policy you can have as for the majority of people they are only implemented when it becomes necessary. Until then, it provides piece of mind that there will be no hassle or problems caused when the time comes for them to be used.
In order to take advantage of this offer, please get in touch with Emma Blakesley in order to discuss your LPA requirements further on 01702 332311.