If you lose mental capacity, unless you’ve already filled in the Power of Attorney forms, your loved ones will need to apply through court to become ‘deputy’, a long and expensive process.
A lasting power of attorney (LPA) gives another individual the legal authority to look after specific aspects of your financial affairs or health and welfare should you lose the capacity to do so. It’s not just for the elderly; younger people may become incapacitated through accident or illness.
If you do not have an LPA in place and later become mentally incapacitated, relatives may face long delays and expense in applying to the court of protection to get access and take control of your assets and finances.
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