Lasting Powers of Attorney
A Lasting Powers of Attorney (LPA) is necessary should you be unable to manage your own affairs, through an accident, or some degenerative disease, which affects your faculties.
There are two versions: An LPA for Property & Financial Affairs and an LPA for Health & Welfare Matters.
It is never too soon to prepare these documents because when it is needed, by definition, you will be unable to sign it. Nor should it be regarded as something for the elderly; industrial and road accidents, holiday and hospital infections can all render you helpless to handle your own affairs. The Will Bureau has been preparing Powers of Attorney for our clients over many years.
Sadly, we have had clients lose capacity to make decisions for themselves. In some cases this has been temporary and the client has recovered to be able to manage their own affairs again. In such cases, the Attorney of the client has been able to act in their best interests to ensure their financial affairs are kept in order. For those clients who tragically did not recover, the Attorney has been able to manage the health arrangements in accordance with the clients wishes.
The Attorney is usually a family member and it is possible to name more than one Attorney and/or to appoint a Replacement Attorney or Attornies in the event that the first Attorney is unable to act.
We highly recommend these documents and around 80% of clients we make Wills for, also take our advice and have these documents prepared.