So, you have a Will – but have you considered a Lasting Power of Attorney?
Having a will means your affairs should be in order for after you are gone, but a Lasting Power of Attorney (LPA) is a vital document to have in place should decisions need to be made on your behalf whilst you are still alive, according to Eleanor Holland from Solihull-based solicitors The Wilkes Partnership.
“If you suffer from dementia, financial and medical decisions will need to be made on your behalf and if you have an LPA in place this means that your named attorney or attorneys can make those decisions for you,” she says.
“The sad fact is that if you show any signs of dementia then it may not be possible to put an LPA in place at that point. The costly, lengthy alternative is for a loved one to apply to be your deputy and it can take up to 4-6 months from the point of instruction for the court to consider your application, and that is after you have gone through the paperwork and all parties have signed it. And the cost can be more than double the cost of an LPA application.
“Whilst your family wait for the deputy application to go through your life could be in limbo. For ex-ample it can affect the accessibility of funds for care home fees and can stop your loved ones mak-ing health and welfare decisions for you, which an LPA will provide for.
“You could save yourself and your family a lot of stress, heartache and expense if you have an LPA in place.
“People often associate the need for an LPA with old age and dementia. However it can become necessary in the case of stroke or accident in which case there is the chance of temporary incapacity but then when the individual is back on their feet they regain control of making their own decisions again. So it is never too early to consider an LPA,” Eleanor adds.
Wilkes offers their clients an efficient, friendly service in the community where they can see some-body face to face who will handle their wills, Lasting Powers of Attorney, and trust and probate needs from beginning to end.
If you would like any more information you can contact Eleanor Holland at The Wilkes Partnership to discuss in person or telephone 0121 733 8000.