Please feel free to contact us by phone, email or Facebook messenger If you have any queries, or you wish to know more about us.
We will be more than happy to answer any questions you may have either over the phone or in person.
Let's look at the Property and Financial Affairs Lasting Power of Attorney (LPA) in more detail.
The Property and Financial Affairs LPA does what it says on the tin to coin an expression.
Put simply, it provides:
Your chosen attorneys the power to make decisions about your financial affairs and your property if you are no longer able to do so.
A Property and Financial Affairs LPA can be used by attorneys whilst you still have capacity if you wish, which can be very useful if you develop mobility issues, lose your hearing or become sight impaired along with whole host other scenarios that may prevent you from being able to deal with your own financial affairs.
The Property and Financial Affairs LPA will allow your Attorneys to make decisions on your behalf on all of your property and financial affairs such as:
Day to day banking, investing money or dealing with savings
Claiming welfare benefits or dealing with pensions
Dealing with your tax affairs
Arranging Medical or optical care
Insuring, maintaining or repairing your house
Paying bills, dealing with mortgages or rent, other household expenses
Buying or selling your property
These are just some examples of what an Attorney’s will be able to do.
Lasting Power of Attorney Instructions and Preferences
Because of the power that you hand over to your attorneys it is very important that you give some thought to adding some instructions or preferences to your Lasting Power of Attorney document.
By entering an instruction into your LPA, you are creating a binding duty for the attorneys to follow, therefore these must be considered carefully before entering them onto an LPA. Entering a preference means you are providing guidance only for Attorneys to follow where possible.
These can be necessary to put into the LPA document, as if you were to lose capacity and you would want to continue making a decision with your money that your Attorneys were not aware of then this is a way to express it.
For a guide on what Attorneys must do, and must not do and some general principles that they must follow give our Choosing Attorneys page a read.
What are Lasting Power of Attorneys?
My Attorneys must not make any gifts
