| Lasting Power of Attorney (LPA) |
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An LPA allows you to plan ahead to protect your assets by appointing someone of your choice to act as your attorney for such a time in the future when you may not be able to deal with things yourself. It is the only legal document you can now create to appoint someone to deal with your property and affairs (and health and welfare) which will continue even if you lose mental capacity. Many people assume that an LPA is for someone over a certain age and relate them to being used when someone is suffering from an illness associated with old age. However mental incapacity covers a wide range of afflictions and at any stage of life. Consider for example a car accident or a fall from height resulting in a coma, or a debilitating illness that affects your memory. Falling ill or injured can happen to anyone, at any time.
Everyone owns some kind of assets, whether it's just a small amount of savings in a bank account or a huge business empire. Have you ever thought who would deal with such assets, regardless of their size, if you were unable to do so yourself? No one, not even your spouse or business partner has the automatic right to deal with your assets if you lose mental capacity.
If you'd like to discuss why an LPA would be right for you, contact us for further information or visit our department page for more on the services we offer.
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