Although most of us know about wills and the importance of creating one, most people are still in the dark when it comes to Lasting Power of Attorney arrangements, or LPAs. But even when people are aware of them, they assume LPAs are only for elderly people, which isn’t the case. Let’s take a closer look.

What Is a Lasting Power of Attorney?

A Lasting Power of Attorney defines legally what you want to happen with your finances and health decisions if you are no longer able to make those decisions yourself. For example, you might have developed dementia, you may be in a coma after an accident, or you may be serving in the armed forces overseas for long periods of time and be uncontactable. Unlike a will, which is carried out according to your instructions after you die, an LPA ensures a nominated and trusted person can make important decisions on your behalf if you cannot.

How Do You Create an LPA?

You can set up a power of attorney online very easily or go the more traditional route and use a solicitor. When you use https://powerofattorneyonline.co.uk/, it is quick, easy and less expensive. You can also review and change the conditions of your LPA at any time: for example, if you wish to change your nominated attorney, who would carry out your wishes.

Who Should Set Up a Power of Attorney?

If you want to plan for the future and make decisions about who can make decisions surrounding your finances and/or health if you lose capacity to do so, any adult should consider setting up an LPA, especially if he or she has assets or children. Without this arrangement in place, decisions often require prolonged court processes, which are time-consuming and expensive. The LPA avoids this and ensures that your wishes are carried out by the person you trust to be your attorney.

There is plenty of information about Lasting Power of Attorney online, and it’s well worth investigating this important legal area well in advance.