Powers of Attorney
Most people will consider what will happen to their money and property if they die but very few people consider what would happen if they were suddenly unable to manage their own affairs and make their own decisions. It is important to consider what you would do if you suddenly had a stroke, a serious accident or in the event that you developed dementia without having someone who can make decisions on your behalf.
A Lasting Power of Attorney (LPA) is a legal document made while you still have mental capacity to nominate a trusted relative or friend to look after your affairs and make decisions on your behalf.
Many people wrongly believe that they only need a LPA as they get older in case they should develop dementia. Whilst this is a reason to make an LPA, it is important for everyone who owns a property or who has any sort of bank account or other financial matters to deal with to put these arrangements in place whilst you are fit and well. Anyone over the age of 18 can make a LPA and people of all ages can lose capacity through serious accident. Once you have lost capacity it is too late to make a LPA.
Tere are two types of Lasting Power of Attorney for: