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It’s a fact. A Lasting Power of Attorney (LPA) is valid for your lifetime whilst a will should be in place to enable family members to look after your estate once you have passed away.
That’s the message from the team at Swansea Legal Solutions who, throughout November 2021, are offering 30% of all LPA’s when commissioned with a will writing service.
The problem is that most people who are fit and healthy don’t feel the need to have an LPA in place until it is too late. For this reason, an LPA should be considered as an effective insurance policy if you become ill, disabled or if you lose mental capacity. In these instances, the appointed attorneys can take over from a financial and/or health point of view to ensure you are protected and looked after correctly.
David Ford, an associate at Swansea Legal Solutions, explains more in this short video:https://www.youtube.com/embed/hHTtBkia9YA
Planning Ahead
Mental and physical incapacity can hit at any time, which is why planning ahead by having in place an LPA as well as a will is so important.
According to the Alzheimer’s Society, by 2025, more than 1 million in the UK will have dementia. What’s more, one in five people over 85 already suffers from it, with rates significantly higher among women than men. (Source).
For those suffering from dementia, handling financial affairs and sorting out your health care requirements is not possible, which is why it is so important to have an LPA in place when you are not mentally incapacitated.
In short, an LPA gives others (your appointed attorneys) the legal right to look after specific aspects of your financial affairs or health and welfare should you lose the capacity enabling you to make these decisions yourself. Importantly, it’s not just for the elderly as younger people can also become incapacitated through accident or illness.
If you don’t have an LPA in place and lose the mental capacity to make your own decisions, your loved ones could face expensive costs by applying to the court of protection to enable them to take control of your affairs.
Swansea Legal Solutions
If you or a family member is looking to take out an LPA for financial and/or health and welfare matters, then the team at Swansea Legal Solutions can help with advice and guidance.
Call us today on the number below to book an appointment – and get 30% off all LPA costs when you commission a will with us:
