In the event that you are no longer able to manage your own affairs, a Lasting Power of Attorney (LPA) enables your chosen individuals to handle your personal and financial matters on your behalf.
There are two types of LPA: Property and Financial Affairs LPA grants authority to manage bills, property transactions, and financial accounts, while Health and Welfare LPA covers decisions regarding health, care, and living arrangements for those who are unable to make these decisions themselves.
By appointing trusted individuals through an LPA, you can ensure that your financial matters will be properly managed in the event of incapacity.
This proactive step can alleviate significant stress and expense while guaranteeing the proper handling of your affairs as a vulnerable individual.
According to the Alzheimer’s Society, ‘over 1 million people in the UK will have dementia by 2025, with women being disproportionately affected’. Additionally, accidents, strokes, brain injuries, and Parkinson’s disease can also impact decision-making abilities. As managing financial affairs becomes increasingly challenging under such circumstances, charities supporting the elderly recommend advance planning for everyone.
For a no-obligation consultation or further information on Lasting Power of Attorney (LPA), please contact us at 01933 588 990 or visit https://nenelegal.co.uk/
Nene Legal are full members of the society of Will Writers.
