Why you need a lasting power of attorney
The loss of the bread winner can be devastating to any family. One of the steps you can take to reduce the problems your family will face after your death is to leave a Will, appointing the people you wish to administer your estate and setting out exactly what you wish them to do. That is why we always recommend that you make a will and review it at regular intervals, making alterations to reflect changes in family and financial circumstances.
Many people leave it at that - believing that they have put into place all the arrangements their family needs. But what if you are involved in an accident, or become victim of a disease, either of which could result not in your death but in the loss of your ability to continue managing your affairs? Your family can be left facing serious financial difficulties, at a time when they are least able to cope. All this can be avoided if you make a valid Lasting Power of Attorney (LPA) under the Mental Capacity Act 2005 while you are still in good health and of sound mind. Nowadays, an LPA can be as vital as a Will.
What should you do now?
Contact us urgently to discuss your own family situation and for details of solicitors who can explain the full implications for all members of your family. If you need it, solicitors would also be able to provide advice and assistance with family wills.
Do contact us if you would like further help or advice on this subject.