If you were to lose mental capacity (compus mentis) through illness or injury, the Court of Protection would appoint someone to make financial and health decisions on your behalf.
This could make life very difficult for your family members and the Court Appointee would not necessarily make the decisions that you would have wanted.
Lasting Power of Attorney (LPA) is a document in which you state your wishes and who you would want to be able to make such decisions in this eventuality. The document is registered with the Office of the Public Guardian.
Until October 2007, the document in question was called Enduring Power of Attorney (EPA), but these have now been replaced by LPA’s. If you have already an EPA, then it is unlikely you will need to have a LPA made; however, it is always worth asking the question in the interests of ensuring that your current wishes are being suitably met.
To learn more about how we can protect your interests, please call us on 0116 253 5600 or complete the enquiry form.
Legal services are not regulated by the Financial Conduct Authority.