Lasting Powers of AttorneyThe prospect of making decisions about your future long-term care needs or your future finances is undeniably daunting. What would happen if you were no longer able to make these decisions for yourself? It's a scary thought. But that fear can be greatly eased by having in place a Lasting Powers of Attorney (LPOA). An LPOA sounds complicated but it's not. It's simply a legal document that enables a person or persons - the attorneys - chosen by you, to make decisions on your behalf. There are two types of Lasting Powers of Attorney and they are described below.
Lasting Powers of Attorney for Property & Financial Affairs
It's not a nice thought - but sometimes, for all sorts of reasons, we can become physically or mentally incapable of making decisions for ourselves. Imagine then the difficulties your family would face if they had to buy or sell property or even pay your household bills.
This is why it's so important to have in place a Lasting Powers of Attorney for Property & Financial Affairs.
Lasting Powers of Attorney for Health & Welfare
Many people worry that having this kind of LPOA in place would enable their relatives to make important decisions on their behalf, about their long term care, without them having a say. But there's no need to fear that. This type of power of attorney can only be used if you are mentally incapable of making such a choice.
But it's an important safeguard to have in place should such a situation arise.
Why should I make a Power of Attorney Now?
A Power of Attorney provides you with security and peace of mind. You can rest assured that someone, whom you have chosen and trust, can make decisions on your behalf as a time when you're at your most vulnerable.
Without a Lasting Powers of Attorney, it may be necessary for your family members to apply to the Court of Protection for the authority to look after your affairs. This can be distressing because it's a lengthy process and is far more expensive in the long run than making a Lasting Powers of Attorney.
How much will it cost?
|Power of Attorney Costs||Price|
|One Power of Attorney (Property & Financial OR Health and Welfare for one person)||£300|
|Two Powers of Attorney (one per person or both types for one person)||£450|
|Three Powers of Attorney (both types for one person and one type for the second person)||£600|
|Four Powers of Attorney (both types for two people)||£750|
|Lasting Power of Attorney for Business only||£350|