Take control of your affairs by preparing Lasting Powers of Attorney (LPAs) for Property and Financial Affairs and Health and Welfare. Think of them as insurance documents, which you prepare while you have the ability to choose your trusted attorneys.
Contrary to common belief, LPAs are not just for the elderly. If you became incapacitated as a result of a car accident or sporting injury, LPAs are crucial to have in place so that those you trust could manage your personal affairs on your behalf.
I encourage my clients to have those potentially difficult conversations now, to make matters easier for their loved ones later down the line.
It is important to take advice so that the documents can be prepared according to your particular circumstances, and so you understand the law behind the LPAs.
Plan ahead, take control and make sure there can be no doubt as to your wishes.
Setting up a power of attorney early on in life is a low-cost precaution that could spare you distress further down the line, argues Faith Glasgow. The conversation with elderly parents or friends about putting in place a Lasting Power of Attorney (LPA) – a legal document that appoints one or more individuals (attorneys) to make financial and/or healthcare decisions on their behalf if they lose the mental capacity to run their own life – is unlikely to be a particularly easy one to start.