THE POWER OF LOVE
Nicole Narey from LCF Law discusses the benefits of making a Lasting Power of Attorney and why it’s a decision you should make before it’s too late.
There is a particular kind of person who has everything organised. The pension reviewed, the will updated, the business protected. And yet, even among the most prepared, one document is routinely overlooked until it is too late to put it in place.
A Lasting Power of Attorney (LPA) allows you to appoint someone you trust to make decisions on your behalf, should you ever lose the mental capacity to do so yourself. There are two types: one covering property and financial affairs and one covering health and welfare.
The misconception that cost families dearly
Most people assume that a spouse or close family member automatically has the right to act for them if they become incapacitated. They do not. Without a registered LPA, even a husband or wife has no legal authority to access bank accounts, manage investments or make decisions about care. The only route is a court application, a process that is slow, expensive and entirely avoidable.
This is not about getting old
An LPA is not a document for later life. Illness, accident or sudden incapacity can affect anyone at any age. For business owners and professionals, the implications extend beyond the personal. Who manages your financial affairs if you cannot? Who makes time-sensitive decisions while you are incapacitated? An LPA answers those questions before they become a crisis.
Why now is the right time
An LPA can only be made whilst you have mental capacity. Once that window closes, it closes permanently. The people who benefit most from an LPA are those who put it in place long before they feel they need it, when decisions can be made clearly, calmly and on their own terms.
At LCF Law, we guide clients through the process efficiently, ensuring both documents reflect your wishes and are properly registered with the Office of the Public Guardian.
To find out more, contact our Private Client Associate Nicole Narey on nnarey@lcf.co.uk or 01274 386571
Bradford
One St. James Business Park
New Augustus Street
Bradford
BD1 5LL
01274 848 800
bradford@lcf.co.uk
Harrogate
The Exchange, Station Parade
Harrogate
HG1 1TS
North Yorkshire
