Planning for the future can be daunting, but it’s essential to think about what might happen if you’re no longer able to make decisions for yourself. A Lasting Power of Attorney (LPA) is a vital legal document that protects your wishes and provides peace of mind for you and your loved ones.
Here, the experts at Hughes Probate Services outline the key benefits of having an LPA in place.
What is a Lasting Power of Attorney?
An LPA allows you to appoint someone you trust to make decisions on your behalf if you lose the mental capacity to do so. There are two types of LPA:
- Property and Financial Affairs LPA: This covers decisions about your finances, such as managing bank accounts, paying bills, and selling property. It ensures that your financial matters are handled smoothly according to your preferences.
- Health and Welfare LPA: This involves decisions related to your healthcare, living arrangements, and overall welfare. It ensures that your health and personal care are managed in line with your wishes, even if you’re unable to communicate them.
Why Is an LPA Important?
Life is full of uncertainties, and unexpected events such as accidents or illnesses can happen at any time. Without an LPA, your loved ones may face significant challenges in making decisions on your behalf. They might need to apply for a Deputyship, which can often be more lengthy, costly, and sometimes, more stressful.
An LPA helps you avoid these complications by letting you choose who will manage your affairs, ensuring your wishes are honoured. Explore the differences between an LPA and Deputyship.
How an LPA provides peace of mind
One of the most significant benefits of having an LPA is the peace of mind it offers. Knowing that you have a trusted person(s) in place to handle your affairs or wishes if you’re unable to do so yourself can provide a huge sense of security.
It reduces the stress for you and your loved ones, allowing everyone to focus on your care and wellbeing, rather than dealing unnecessarily with complex legal issues.
When should you set up an LPA?
It’s never too early to consider setting up an LPA. Although often associated with ageing, having an LPA can benefit anyone, regardless of age or health status. Planning ahead helps you avoid potential uncertainties and make informed decisions while you still have the capacity to do so. Life’s changes can be unpredictable, and having an LPA ensures you’re ready for whatever the future may bring. Learn more about the right time to set up an LPA.
Plan ahead with Hughes Probate Services
Thinking and talking about the future isn’t always easy, but taking the necessary steps now can save you and your loved ones a lot of stress later on. At Hughes Probate Services, we’re here to guide you through the process of setting up an LPA with care and understanding.
If you’d like to discuss your options, contact Julie for an informal chat over a cuppa – or virtual cuppa – to discuss your requirements. Let us help you take control of your future today.
