What is a Lasting Power of Attorney and Why Might I Need A Solicitor For It?
A Lasting Power of Attorney (LPA) allows you to choose people you trust, who can then make decisions on your behalf. Aimed at those who are no longer capable of making these decisions themselves. These agreements are like living will and enable your attorneys to act for you. You can choose Property and Affairs, or for Personal Welfare or in fact for both. Either of these types of LPA need to be registered with the Office of the Public Guardian (OPG).
The advantage of appointing an attorney now is that a formal application to the Court of Protection will not usually be necessary later. If you do lose your capacity to act for yourself these things can be very difficult and complex to organise.
More that 615,000.00 pensioners were surveyed by YouGov and the outcome was that thousands of people have not yet set up an LPA. With 7 in 10 people now in retirement we are storing up problems. We want York and Yorkshire residents to benefit from future protection. Solicitor members often offer fixed fee Solicitor appointments.
There is no doubt that these findings revealed tens of thousands of pensioners could be financially vulnerable in retirement.
An LPA Solicitor application is a very important part of any advance planning. Four years ago there was an overhaul of the pension rules. It gave people the freedom to keep their pensions invested in retirement and draw an income as and when they like. However what if they are no longer fit to make those decisions?
Registering an LPA has become even more crucial since the pension reforms. Hundreds or even thousands of people are now making complex decisions about their pension into old age. They do this when the the risk of developing illnesses such as dementia increases.
Don’t let your family have the strain of instructing a Solicitor later. Instruct a Solicitor panel member of Law-Med today.
A Lasting Power of Attorney for the Young and the Healthy?
LPA’s are increasingly a choice for not just the over 50’s but for savvy couples too. Ultimately, disease, infection or accident can strike anyone, anytime. If you have an LPA in place, it means your loved one or family dont have to go through the Court of Protection (whose job is to protect the infirm persons rights) in order to access the bank accounts and finances. They can make decisions about property and assets (should you fall very ill) without first having to engage a High Court Lawyer. This sort of forward thinking is hard to face, however, we must all face these decisions some time, better to do it while we are generally fit and capable to do so.
The Law Med Medical Panel is an unincorporated association its members are clinical negligence accredited specialists.
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