| Press Release |
 Protecting yourself against the unknown. - Lasting Power of Attorney
13 February 2009
It is just over a year since the Government introduced the Lasting Power of Attorney (LPA), and a local law firm is recommending that younger people, as well as the elderly, consider it.
An LPA offers a legally binding way for a person, in the event of any future incapacity, to pre-arrange responsibility for key financial and/or welfare decisions that such incapacity will affect, to pass to a nominated person (or attorney).
According to Chris James, Probate Executive with Treasures solicitors in Gloucester, “There is a widespread assumption that the LPA is just for older people. It is, of course, true that an elderly person is more likely than a younger to lose capacity – but that does not mean that younger people are not at risk. There is a strong case to be made for anyone to appoint an attorney (or attorneys) as a form of protection against things going wrong, such as an unexpected illness or accident affecting a family’s main breadwinner.
“You can draw up an LPA at any time, but it will not come into power until it is officially registered with the Office of the Public Guardian. This means it will not come into legal force until it is actually needed, so there is no risk of losing responsibility for your own affairs until there is a need for somebody else to take on the responsibility.”
There two kinds of LPA, although it is possible to draw up both at the same time. A Property and Affairs LPA allows you to choose someone to decide how your money and assets should be administered, while the Personal Welfare LPA enables you to appoint someone to manage your healthcare and other needs.
“Drawing up an LPA can be a complicated process, but it is made much more straightforward if you have the help of a solicitor. Call us on 01452 525351 for help and advice on how to take this important step” Mr James concluded.
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