Lasting Power of Attorney (LPA)
Gaining access to someone's Finances if they lose capacity due to illness or accident is a complex and protracted process without a Lasting Power of Attorney. It can make things even more difficult for a spouse, partner or even your children at a time of already major stress. All banking would stop, accounts would be frozen, leaving a household without access to cash, unable to pay bills or service direct debits and standing orders.
If a business owner, it could become impossible to continue to trade or make staff and supplier payments. Who would make the day to day decisions in your place?
Setting up Lasting Power of Attorney would allow you to choose someone you trust to manage your affairs in the way that you would have until such a time that you are able to take over again. If you can’t, you will be safe in the knowledge that it is your choice of attorney running things and not someone else’s...