What is Lasting Powers of Attorney in Wales?
I want to make sure the people I love are looked after when I’m no longer there to look after them myself. That’s why I chose The Will Associates.
Lasting Powers of Attorney in Wales
A Lasting Power of Attorney in Wales (LPA) allows your loved ones to take care of you and your finances if you become unable to do so yourself.
There are two types of Lasting Powers of Attorney in Wales (and the rest of the UK):
A “Property and Financial Affairs” Lasting Powers of Attorney gives your Attorney the authority to deal with buying and selling your property, your bills, bank accounts and investments.
A “Health and Welfare” Lasting Powers of Attorney covers decisions about health and care and even deciding where someone is to live. This can only be used if someone is incapable of dealing with such matters themselves.
Why have a Lasting Powers of Attorney in Wales?
A Lasting Powers of Attorney ensures that, should you be unable to manage your own affairs, the people you have appointed can manage your financial life on your behalf. This can save a great deal of money and distress, and will ensure that, as a vulnerable person, your affairs will be handled correctly and quickly.
- According to the Alzheimer’s Society, more than 1 million people in the UK will have dementia by 2025.
- More than 1 in 5 people over 85 already suffer from this, with rates significantly higher amongst women than men.
Accidents, strokes, brain injuries and Parkinson’s disease can also affect someone’s ability to make their own decisions.
Handling your financial affairs can become virtually impossible, which is why charities who care for the elderly recommend everyone plans ahead. This could have the dual benefit of saving a great deal of money and easing the burden on their relatives.
If you lose mental capacity without a Lasting Powers of Attorney in place, it will be necessary for your family to apply to the Court of Protection to have a deputy appointed to deal with everyday financial matters. This is a slow and very expensive process, costing thousands of pounds. If you have to use a lawyer it could cost a lot more. If you already have a Lasting Powers of Attorney in place, this will not be necessary.
Don’t put your loved ones in jeopardy any longer. Make the decision today.
Joint bank, building society and business accounts can be severely restricted if ONE of the account holders loses mental capacity and there is no registered Lasting Powers of Attorney in place. The 2013 British Bank Association booklet entitled “Guidance for People Wanting to Manage a Bank Account for Someone Else”, states: ‘If one joint account holder loses mental capacity, banks and building societies can decide whether or not to temporarily restrict the use of the account to essential transactions only’ .
The restricting of a joint account has severe implications as the joint owner cannot freely withdraw what is their own money without an order from the Court of Protection. This could be devastating, especially if the joint owner has their only form of income, such as their pension, paid into this joint account.
Jack Straw, former Lord Chancellor and Secretary of State for Justice said: “We all know how important it is to plan for the future. Having a Lasting Power of Attorney in place should be as common and natural as making a Will.”
What else can our Lasting Powers of Attorney in Wales partners offer…
Our Lasting Powers of Attorney in Wales partners are a rapidly expanding company, regularly advertising in the national press and on television, which has helped to cement their vision as a company serious about their customers’ welfare.
In addition to Lasting Powers of Attorney in Wales services they also offer many other services that help protect children, parents and properties against state interference.
Our trained Consultants can assess your current circumstances and recommend the products that will provide the correct protection for you, your family and your assets.
What areas of the UK do we provide our Lasting Powers of Attorney in Wales services to?
We can provide Lasting Powers of Attorney in Wales services to people all over Wales as well as South West England, South East England, West Midlands, East Midlands, North West England & North East England.
You’ve worked hard for what you have. Make sure you keep it by getting a Lasting Powers of Attorney in Wales or elsewhere in the UK….
Getting a Lasting Powers of Attorney today is easy to do – and we can help you every step of the way.
If you have any further questions you could email email@example.com or to get a Lasting Powers of Attorney in Wales you could call MA Consultancy on: 07517 024979.
In addition to Lasting Powers of Attorney in Wales our partners can also provide the following services: