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  • Writer's pictureKatherine

Lasting Powers of Attorney – What are they?


People often know that a will is a document which sets out your instructions for your money and property after you pass away.


However, not many people know that having a Lasting Power of Attorney (or ‘LPA’) is just as important, especially when someone in the UK develops Dementia every 3 minutes.


An LPA is a plan that you put together in case you lose mental capacity.


You can appoint a trusted individual (an ‘attorney’) to make decisions on your behalf, in case you were to lose capacity in the future.


If you don’t have an LPA and you were to lose capacity, your relatives may not be able to access your money without having to make a court application, which can be a long and costly process.


There are two different types of LPA:


· Property & Financial Affairs and

· Health & Welfare (covering life sustaining treatment, medical treatment and care decisions)


Property & Financial Affairs LPAs can also be used when you have mental capacity but only with your consent.


Do you own a business? If so, you should also think about making a ‘Business Power of Attorney’ to cover the situation where you were unable to run the business through incapacity or for any other reason.


If you would like to find out more, please contact me on 01892 354354 or katie@ingramlegal.co.uk

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