Money Saving Expert, Martin Lewis has highlighted why having a Lasting Power of Attorney (LPA) is incredibly important. In fact, he stated that having a power of attorney was ‘more important than a will’.
If at some time in the future you lack the mental capacity to make important decisions for yourself, an LPA will enable someone you trust to make these decisions for you and deal with your affairs. This can apply to anyone who has an accident or suffers a life changing condition, meaning that they need help to manage their affairs.
| What would happen if you did not have a Lasting Power of Attorney?
If you do not have an LPA, and later lose mental capacity, then someone will need to make a deputyship application to the Court of Protection to become entitled to manage your affairs. This may not be the person you would have chosen yourself. Spouses don’t have the right to make decisions for each other if they lose capacity.
The costs and complexity of a deputyship application are significantly greater than setting up an LPA.
Andrew Milburn, Partner and Head of the Wills and Probate team at Levi Solicitors commented; “None of us know what is around the corner (as Martin alludes to the 3 Ds: death, divorce, and dementia) and planning for common eventualities is sensible. I agree with Martin Lewis……it’s better to have a power of attorney than not.”
Our experienced teams at Levi Solicitors can advise and guide you through the entire LPA process. They will draft all of the required documents ensuring you have peace of mind, knowing your future is taken care of.
| Free will
When you make both a Health and Welfare LPA and a Property and Financial Affairs LPA with Levi Solicitors, we will make your will for free*!
For further information on the importance of making a Lasting Power of Attorney, or on any other queries you may have, contact our team, we’re here to help. Call us free on 0800 988 7756 or book an appointment online.
*Free standard will or will amendment to be made together with the LPAs. Additional charges will apply for complex wills.
