IFIf you’ve ever heard of a Lasting Power of Attorney (LPA) but aren’t quite sure what it is or why you need one, you’re in the right place. It might not be the most exciting thing to think about, but an LPA can make a world of difference if life takes an unexpected turn.
So, what exactly is an LPA? In simple terms, a Lasting Power of Attorney is a legal document that allows you to appoint someone you trust to make decisions on your behalf if you’re no longer able to. This could be due to illness, an accident, or age-related conditions like dementia.
There are two main types of LPAs:
- Health and Welfare LPA: This gives someone the authority to make decisions about your health care, where you live, and even your medical treatments if you can’t make those decisions yourself.
- Property and Financial Affairs LPA: This allows someone to manage your financial matters, like paying bills, managing your bank accounts, or even selling your home if necessary.
You might think, “I’m healthy, I don’t need an LPA.” But that’s the thing—LPAs are all about being prepared for the unexpected. Without one, if you become unable to make decisions, your family could face delays and legal issues to access your accounts or make healthcare decisions for you.
Setting up an LPA now means that you’re in control of who will look after your affairs, giving you and your loved ones peace of mind.
A Lasting Power of Attorney is like insurance for your future—it’s something you hope you never need, but you’ll be glad it’s there if life takes an unexpected turn.
