~~~~~ Lasting Power of Attorney (LPA) ~~~~~
A staggering 850,000 people in the UK are currently suffering with dementia, a statistic that the Alzheimer’s Society say will grow over the next decade. It is forecasted that around 2 million people will have dementia by 2051 and it is currently estimated that approximately 1 in 3 people born in 2016 will become sufferers.
Clearly, dementia is a problem that is not going away; so given those figures, we need prepare ourselves for the possibility that we will need the support of our family and loved ones if we become vulnerable.
The effects of not appointing an Attorney to make decisions can be devastating! With no access to finances and no capacity to make decisions about health and welfare, the family can have no input at all to help.
This can be avoided...there are 2 Types...
A Property and Financial Affairs LPA which covers issues such as selling your home, paying bills and dealing with your bank accounts, and a Health and Welfare LPA which can deal with decisions about the care and treatment you receive. It is important to understand that, without an LPA in place, nobody has the legal right to make these types of important decisions on your behalf, not even your spouse or your children.
Without a LPA in place, it would be necessary to apply to the Court of Protection for the appointment of a Deputy. This can be a long, complex and expensive process which can be easily avoided by having a LPA in place. With an LPA you can choose more than one person to act as your attorney as well as replacement attorneys. Furthermore you can also place restrictions and conditions on the authority that your attorney is given as well as providing them with non-binding guidance to assist them with their decision making responsibilities.
At Monforte Wills & Estate Planning we can help you through the implications of having LPAs put in place and can guide you through the necessary decisions that you have to make.
We can draft the LPAs on your behalf; we can also act as a Certificate Provider, signing and making a declaration to the Office of the Public Guardian that the person making the LPA was not forced to do so and activate the LPAs when required by registering them with the Office of the Public Guardian.