It allows you to appoint a person (Attorney) and give them a legal right to look after your financial affairs or health and welfare decisions if you can’t or don’t want to. There are 2 separate documents covering these decisions.
It is NOT just a document for the elderly; younger people need protection as they may become incapacitated too, through accident or illness. Any individual with assets needs to have a Lasting Power of Attorney so that they appoint who they trust to step into their shoes and act for them if they are not able to do so themselves.
A Lasting Power of Attorney provides peace of mind that somebody can deal with your affairs if you are unable to do so.
Any person with a business interest should also have a Lasting Power of Attorney in place to ensure the business can continue if they become unable to make decisions.
We live in a data protection world were access to information closes down quickly if we are not registered against the account. Even if you are married you have no legal authority without a Lasting Power of Attorney being in place.
A Lasting Power of Attorney is like an insurance document. It provides peace of mind that somebody can deal with your affairs if you are unable to do so. It is a must have key protection document.
