The future is full of uncertainties that none of us can predict. Whether you wave goodbye to Britain for sunnier climes over the cold winter months, or are unfortunate enough to fall victim to a debilitating accident, you might one day require someone trustworthy to execute your affairs.
This is where a Lasting Power of Attorney (LPA) can give you real peace of mind that your personal welfare, finances or property are in safe hands. Here at Acumen, our experts can provide you with the best LPA guidance for your situation.
I have dealt with Angela Maher from Acumen both professionally and personally for many years and have always appreciated the prompt and helpful advice. Angela and other members of the firm have always been very friendly and approachable and have always gone out of their way to provide considered and practical financial advice.
David, Retired Solicitor
What does Lasting Power of Attorney mean?
Power of Attorney explained
An LPA is a legal document that allows you to choose a trusted confidante, known as the Attorney, to make important decisions on your behalf. An LPA can be made at any time, by anyone aged 18 or over with the mental capacity to do so, but can only be used after being registered with the Office of the Public Guardian (OPG). Read more about Lasting power of attorney.
Different Types Of LPA
A Personal Welfare LPA gives your Attorney power to make daily decisions on your behalf regarding your personal welfare. This can include matters like where you live, your diet, and what medical treatment you receive. This type of LPA is only used when you are deemed to lack mental capacity.
Property and Affairs
A Property and Affairs LPA gives your Attorney license to make decisions about your property and finances. These can range from accessing your bank accounts to selling your property or managing your finances. You can decide whether these powers come into effect immediately or only in situations when you lack capacity.
How can Acumen help?
There is no automatic right for your spouse, parents, or children to make decisions on your behalf. Should you lose mental capacity, your loved ones would be forced to apply for a costly and time-consuming Deputyship Order. Only then could they act in your best interest.
Although not strictly part of the estate planning process, arranging LPAs can be valuable to your beneficiaries because they allow your affairs to be handled efficiently later on in life.
Central to Acumen are the well-established partnerships that we have built with the appropriate professionals who can help our clients to put these documents in place. We can help identify the level of complexity within your estate and introduce you to a solicitor that will assist you from start to finish.
Benefits of using Acumen
- Management of all your financial plans and advice.
- Continuity with financial and estate planning.
- Ensuring the right person manages your estate.
- Independent support through the whole process.
Every year thousands of people become incapable of managing their finances due to illness or injury. A power of attorney is the authority to act for another person in legal matters. With a lasting power of attorney (LPA), you can appoint people to make decisions on your behalf, in case you lose the capacity to decide for yourself.
An LPA is a legal document that allows you to assign a trusted person, known as an Attorney, to make important decisions on your behalf and in your best interest.
There are two key types of LPA. A Personal Welfare LPA allows someone to make decisions about your personal life, diet, medical treatment and housing arrangements. A Property and Affairs LPA allows someone to make important decisions about your property and finances.
We can provide you with LPA advice to help you make the right choice about which type of LPA is best for you, ensuring that you are well looked after should you ever lose mental capacity to care for yourself.