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Lasting Powers of Attorney.
Introducing Simpler LPA's.
Lasting Power of Attorney: Essential Documents to Manage Your Affairs
A Lasting Power of Attorney is a registered document in which you have chosen an individual (your attorney) to make decisions and take actions on your behalf should you become incapacitated. This includes incapacity through accident or a physical or mental illness.
There are two LPAs, Property & Affairs and Health & Welfare, each of which cover different aspects of control. Interestingly, recent research indicates that 75% of UK adults wrongly believe that their next of kin automatically has the power to make these decisions without an LPA.
The Two Types of LPA's.
The Decisions an LPA can help with.
Lasting Power of Attorney Property & Affairs
This document allows your attorney the power to make decisions for you about money and property, for example:
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Managing bank or building society accounts
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Paying bills
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Collecting benefits or a pension
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Selling your home
Lasting Power of Attorney Health & Welfare
This document allows your attorney to make decisions regarding your health and wellbeing, for example:
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Your daily routine, for example washing, what you wear, and what you eat
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Medical care and medications
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Where you live
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Life-sustaining treatment
Lasting Power of Attorney Statistics.
Increase in people making an LPA in the UK within the last year and also an 11.5% increase in take up over a five year average
Source: This is Money.
78% of adult population in the United Kingdom have so far failed to have made either Lasting Power of Attorney
Source: Canada Life
Of adults wrongly believe that their next of kin automatically has the power to make these decisions without an LPA
Source: Office of the Public Guardian
Approximately
one million people in the United Kingdom suffer from dementia
(7.5% are under 65)
Source: Dementia Statistics