A Lasting Power of Attorney is a legally binding document that enables you to choose who looks after you and your finances if, as a result of an illness or accident, you are no longer able to look after these important things yourself.
There are two types of Lasting Powers, one for your finances and one for your health and welfare. It is equally important to have both Lasting Powers. People of all ages and all walks of life ought to have Lasting Powers in place at the earliest opportunity.
Everyone ought to have an LPA. You don’t have to be rich, own your own home or have a complicated portfolio of investments. You may just be struggling with paying bills yourself – i.e. with speaking to various telephone and energy companies – or you may be hard of hearing. Whatever the reason, if you have appointed an Attorney, they will be able to speak for you.
If you have a business and want to appoint different Attorneys to act for your personal finances and for your business affairs, then this can also be arranged.
The government has issued a guide which you can download via the following link: