Power of Attorney
POWER OF ATTORNEY
Die without a Will and you don't choose where your assets go - not good. Yet if you lose your faculties, whether due to stroke, accident or dementia, without a Lasting Power of Attorney (LPA), your assets could be locked down - even stopping your family paying for your care. It's not an age thing either: Every grown-up with assets should consider an LPA. Relatives can't just access your cash if you lose your faculties, not even to pay for your care or mortgage. One person develops dementia every 3 minutes, others lose capacity in a variety of ways. It's often quick. And when your family are already under stress dealing with your condition, without an LPA, the only way to take charge of your finances is via the Court of Protection. Expensive and time consuming. With an LPA you nominate a trusted friend or relative to take control of your assets ONLY if you lose capacity. It's a bit like an insurance policy in case the worst happens.