If someone loses their mental capacity, through illness such as dementia or a stroke or otherwise they would need someone to look after their affairs for them. Without a Power of Attorney, banks, building societies and utility companies would not deal with anyone else.
An LPA is a legal document to allow someone you trust to manage your affairs and act on your behalf particularly when you are unable
to do so for yourself. It should not be put off until you think you might be going to need one, as you cannot make an LPA once you have
lost mental capacity and you might not know when you are starting to lose mental capacity or it might happen suddenly, such as by a
stroke or a car accident.
An LPA enables you to appoint who you would most trust and think most appropriate to act on your behalf. This might be a member of your family or a friend or a professional. You should discuss it first with the person you are considering appointing.
If you do lose the ability to manage your own affairs and have neither an LPA or an old EPA, then an application to the court can be made for someone to be appointed to a role similar to that of an attorney, but you would have no control over who would be appointed. The process would take much longer and would be very much more expensive than if you had an LPA in the first place. You would not be able to state your wishes or impose restrictions on their actions.
Examples of decisions attorneys can make (unless you choose to restrict these) if you are
unable to make them for yourself
- without an LPA, how would you manage?
Property and Finance
If you are interested in making an LPA then let me know and I can arrange an appointment to go through it with you.
The fees of Mugford & Co Wills (Diss) Ltd for discussing the options, advising on the law and preparing and all of the forms are
significantly lower than most solicitors' firms. Also there is currently no VAT on these fees.
Please contact Richard Mugford for further information.