It is difficult to comprehend that you would ever lose the ability to manage your own affairs but mental and physical incapacity can happen to anyone at any time.
It is anticipated that by 2040, nearly one in seven people will be over the age of 75 (Government Office for Science) and by 2025, more than 1 million people in the UK will suffer from dementia (Alzheimer’s Society). Younger people are not immune; they too can suddenly become incapacitated from an accident or illness.
As such, it has become more important than ever before to have a Lasting Power of Attorney (LPA) in place. This will ensure that you have the freedom to choose those individuals you trust to manage your affairs in the event you become incapacitated.
If you do not have an LPA in place and you later lose the ability to make or communicate decisions, you would no longer be able to make an LPA. Instead, it would be necessary for your family or friends to apply to the Court of Protection to access and gain control of your assets and make decisions about your health and welfare by way of an application to act as your Deputy. These applications can be both time-consuming and very expensive, so it is best to get LPAs in place as soon as you can before it is too late.
There are two types of LPA:
- Property & Financial Affairs
- Health & Welfare
Our team of solicitors can help you put in place your Lasting Power of Attorney quickly and simply. We can also assist with an application to the Court of Protection to be appointed as a Deputy where a person has already lost mental capacity to look after their affairs and have not put in place a LPA before losing this capacity.