Planning a will is vitally important, but appointing people to make decisions on your behalf before you die is just as important.
Through old-age or diseases such as dementia, there may be a time in your life when you are unable to make decisions involving your finances, health or welfare, so planning ahead and making your wishes known is vital.
The most effective way of planning for your future in this way is to prepare a Lasting Power of Attorney (‘LPA’) Document.
There are two types of LPA:
- One to assist in the management of your finances
- One to assist in making decisions about your health and welfare
Without advanced planning and correct legal documentation, people of importance to you will be unable to make decisions on your behalf relating to finances, health, welfare or the running of your business.
Our advice is simple – plan ahead and plan wisely. Make sure you decide who will make decisions on your behalf if you are unable to do so and we strongly advise seeking professional advice when considering powerful legal documents of this nature.