The subject of Lasting powers of attorney or LPAs as they are frequently referred is a topic many of us chose to willing shy away from. For the vast majority of us the prospect of drafting a will, or putting our affairs in order in case in an unforeseen event was to happen is a task we have to force ourselves to undertake. However as people are living longer and as a consequence increasingly suffering from illnesses that attack our ability to make informed rational decisions such as Alzheimer’s, the importance of having an LPA has never been greater.
Naturally we tend to shy away from subjects that make us feel uneasy or uncomfortable, with the thought that one day we or a loved one may be unable to adequately care for ourselves falling into this category. It is important that we push past the initial uneasiness and force ourselves to answer the question what would you do if it did were to happen. Just as you would may plan for the worse case scenario when starting a business or entering into marriage it is essential individuals properly plan for their future old age or ill health by making the necessary arrangements to offer themselves and their family long term security. Preparing an LPA can do just this.
You may find yourselves asking, why then if an LPA is so important do so many of use choose to ignore the benefits it can afford us? Obviously, the answer will depend on the individual although it is believed a large part of our reluctance is in our unwillingness to think of ourselves in such a vulnerable condition. Setting up an LPA is not a long or arduous task but one that can be easily completed whilst drafting your will. In fact the process of setting up an LPA has actually been made easier thanks to the Government and their simplification of the application to register process.
Many people mistakenly view setting up an LPA as a relinquishing their powers which it most certainly is not. Setting up an LPA yourself allows you to choose a trusted individual or individuals based on your wishes. An LPA can be set up now and stored away for a time when it is needed. An LPA should be seen as an insurance policy for the future, you would hope that you never need it but you will be extremely grateful that you completed one if you do suffer from ill health in later years. Your legal rights will not be compromised and appointing a trusted person or people as Attorney(s) will ensure not only that your wishes are carried out but also that you receive the help and support you deserve.
If you would like to find out more about LPA and Court of Protection Applications, or you would simply like to speak to a solicitor with extensive knowledge of wills, trusts and estate planning, contact Farleys on 0845 050 1958. Alternatively please complete an online enquiry form.