The Importance of Making the Right Choice
Posted on June 19th 2017
In 2014, the Office of the Public Guardian looked into what the public understands about Lasting Powers of Attorney (LPA). When surveyed, a massive 45% of people aged 45 and over knew nothing.
So, what is a Lasting Power of Attorney?
It is a document that allows you to name people that you trust to manage your affairs if you become unable to make decisions. This can include managing your property, finances, welfare, and healthcare.
You could become unable to make decisions because of a disease (such as dementia) or through an injury.
What is it vital to have a Lasting Power of Attorney?
People are now enjoying longer lives than they ever have before, but with an increased lifespan comes a greater risk of developing illnesses and diseases.
According to the Alzheimer’s Society 1 in 3 people over 65 will develop dementia.
It’s not just about protecting the ageing population. Headway report that, in the UK, someone is admitted to hospital every 90 seconds with a head injury. Statistics like this show that an injury or illness at any age can leave you without the capacity to make decisions.
If this happened, you would want to be sure that you loved ones, and not a Court, make decisions which affect you. Responsible for a business? You can make a business Lasting Power of Attorney to protect your employees as well as your family.
Without an LPA your loved ones would be unable to take control of affairs on your behalf without applying to the Court of Protection to become a ‘Deputy.’ They would be unable to sell any property you own, or jointly own, and unable to make healthcare decisions (including end of life care) for you. Becoming a Deputy is much more expensive and difficult to achieve than making a Lasting Power of Attorney.
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