Lasting Powers Of Attorney
Do I need a Lasting Power of Attorney?
Most of our clients ask us the same question. “Do I need a Lasting Power of Attorney?”
To answer that question it is important to understand what Lasting Power of Attorney (LPA) is.
A Lasting Power of Attorney (LPA) is a powerful legal document that allows you to choose people you trust, called attorneys to make decisions on your behalf if you lose mental capacity or need help managing your affairs. There are two main types of LPA: one for Property and Financial Affairs and another for Health and Welfare.
Why is an LPA important?
An LPA provides financial certainty and peace of mind.
If you are unable to act for yourself in the future, your loved ones may face frozen bank accounts, unpaid bills and be shut out from important medical decisions.
Many people assume that their spouse or family members can automatically make decisions if they become unable to do so. However, this is not the case.
Without an LPA in place, no one has the legal right to manage your finances, access your bank accounts, or make care decisions on your behalf.
There is no wonder Martin Lewis describes an LPA as being more important than having a Will.
What do I do next?
At Moneybox Wills and Trusts, we make the process simple and stress-free. Our team offers complimentary advice to help you understand the different types of LPAs and ensure your documents are prepared and registered correctly.
To understand how an LPA could provide financial security for you in the future, call Moneybox Wills and Trusts today on 01625 573521.
Call Moneybox Wills and Trusts on 01625 573521 today.
Lasting Powers of Attorney
Property & financial Affairs
Why is this important?
A Property and Financial Affairs LPA gives your chosen attorneys the legal authority to help manage your money, property, and financial decisions if you become unable to do so yourself . Or if you simply prefer support in doing so.
This type of LPA allows your attorneys to pay bills, manage bank accounts, liaise with financial advisers, handle investments, and even buy or sell property on your behalf. In addition, they can help with digital banking, online accounts, and paying for care fees. Areas that families often overlook.
What happens if I don’t have this?
Without this authority in place, your family cannot legally assist with even the most basic financial matters. For example, they would be unable to access bank accounts to pay your bills, pay care home fees, or manage your property if you lose capacity.
As a result, many families face unnecessary stress and financial delays. often requiring an application to the Court of Protection, which can take 12 months and cost far more than setting up an LPA.
LPAs for business owners and the self-employed
If you’re self-employed or run a business, a Property and Financial Affairs LPA is vital. It allows your attorneys to file accounts, access business funds, manage payroll, or wind down operations if needed. This ensures continuity and protects your employees and clients while you recover or during long-term incapacity.
Get expert advice before setting up your LPA
Because a Property and Financial Affairs LPA grants wide-ranging powers, it’s essential to get professional advice before signing or registering the document. At Moneybox Wills and Trusts, we help you:
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Understand your options.
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Choose the right attorneys.
- Ensure your wishes are documented.
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Prepare and register your LPA with the Office of the Public Guardian.
Book your free initial consultation today and ensure your financial affairs are in safe hands.
Lasting Powers of Attorney
Health & Welfare
Why is this important?
The Health and Welfare LPA is a vital document that ensures your loved ones are in control of your care and wellbeing. It allows your chosen attorneys to make personal welfare decisions, from where you live and the type of care you receive, to medical treatment and end-of-life wishes.
Importantly, this document is not the same as a Do Not Resuscitate (DNR) order or a Living Will. Those record your personal treatment preferences, whereas an LPA for Health and Welfare empowers your attorneys to make those decisions for you in real time, taking account of your current condition and best interests.
What happens if I don’t have this?
The local Authority and other Healthcare professionals have a duty to consult family, and will take their opinions into consideration.
So you may ask, “Why do I need an LPA?”
Most families feel that it should be their loved ones making decisions for them. While family may be consulted, without an LPA, the local authority or medical professionals make the final decision.
By setting up a Health and Welfare LPA, you give your loved ones the legal authority to decide where you live and how your care is managed. As a result, your family keeps control and your wishes are carried out by those who know you best.
What decisions can your attorneys make?
Your attorneys can decide on your:
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Daily routine, diet, and personal care.
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Medical treatment and care plans.
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Living arrangements, including whether you stay at home or move into care.
- Decisions about life sustaining treatment and End of Life care.
They can also request reviews of your healthcare or social-care provision, rather than waiting for the local authority to act. This means you receive faster, more responsive care and your family can adapt quickly to changing circumstances.
Make your wishes known.
At Moneybox Wills and Trusts, we make the process of creating your Health and Welfare LPA simple and stress-free. We help you choose suitable attorneys, explain their responsibilities and ensure your documents are properly registered with the Office of the Public Guardian (OPG).
Book your free initial consultation today to make sure your future care and medical decisions stay in the hands of those you trust most.
Estate Planning Services in Cheshire
Call Moneybox Wills and Trusts on 01625 573521 today.
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