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What is an LPA?

Keep hearing us talk about Lasting Power of Attorney (LPA), but not sure what one is?

If you create an LPA you are called a donor and it allows you to choose someone that you trust, who are then given the name attorney.

Your attorney will have the ability to manage your finances and property affairs, if you lose the mental capacity to be able to do it yourself.

If you have an LPA, it means that if something was to happen to your mental capacity, it is easier for your family and it cuts down the cost and stress involved, in making an application to the Court of Protection, after you have lost the ability.

Now, of course not everyone is going to lose mental capacity and you might think you’re too young or it won’t happen to you, but what if you were to slip on ice and have a head injury? Or, if you were involved in an accident, had a sudden illness?

We can’t predict the future, but we know that the number of people who need an LPA is increasing, yet still so many people are unaware or have not thought of creating one.

You may think it is a waste of time or money, because it probably won’t happen to you. But, if you compare it to insurance policies, you may never have a car accident or fire in your home, yet it is compulsory to have insurance, to protect. Your LPA will act as your insurance, for your finances and property if the worst was to happen.

Is it really worth the risk of not having one?

If you want to chat to someone about an LPA and discuss your options, contact Ella on 01909 512 120 or email ella@loftusstowe.com

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Femi Ogunshakin Managing Director
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