“It’s better to tell your money where to go than ask where it went” -Farmer’s Gazette
Making a lasting power of attorney (LPA) is as important as making a Will. It allows you to choose who you trust to manage decisions about your finances and personal welfare if you are unable to make those decisons yourself. This person is called your Attorney.
Property and Financial Affairs LPAs
A Property and Financial Affairs LPA allows your Attorney to make decisions about your finances such as paying your bills, dealing with your bank accounts and even selling your house.
You can decide whether you want your Attorney to be able to help you manage your money even if you still have mental capacity. This can be very useful of you are in hospital or cannot get to the bank. However generally the document is used when you can no longer make those decisons yourself.
It is important to remember that your Attorney must act in your best interests at all times and they must use your money for your benefit.
Personal health and welfare LPAs
A personal health and welfare LPA lets your Attorney make decisions about your health treatment and care. You can also decide whether to give your Attorney the power to give or withdraw life sustaining treatment on your behalf.
Unlike a Property and Finances Attorney a Health and Welfare Attorney can only make decisions on your behalf if you do not have the capacity to make them yourself.
Suite 341, 3rd Floor Broadstone Mill, Stockport, SK5 7DL
Tel: 0161 504 2101
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