Powers of Attorney
Thinking about the unthinkable
A Lasting Power of Attorney (LPA) is created to allow someone else the ability to look after your affairs if your mental capacity is lost. It isn't a nice thing to think about which is why most people will put it off as long as they can. We would advise however, that you do this sooner rather than later as an LPA can only be created when your mental capacity is sound.
More often than not people create Lasting Power of Attorney (LPA) in later life when there is a higher chance of mental capacity being lost through dementia for example. However, mental capacity can be lost at any age as a result of say, an accident so we would also advise anyone with complex financial affairs to have one as well.
There may also be a variety of reasons why you might need to look after someone else’s affairs and there are several ways of ensuring that you are acting properly on their behalf.
At Banner Jones we can advise you on the best course of action for your particular circumstances.