If you lose the capacity to manage your own finances and make decisions about your welfare the situation can create significant difficulties for those closest to you.
This is why many people are increasingly looking to make a Lasting Power of Attorney (LPA).
This is an agreement that will enable you to give someone you trust the authority to make decisions on your behalf.
With people generally living longer and the UK recording an increase in the number of individuals being diagnosed with dementia in old age, LPA is something that more and more people are considering.
You can choose whether it takes immediate effect or only in the event you become unable to make decisions for yourself in the future. You also have the option to set out how you would want your affairs to be managed by the person you have chosen as an Attorney.
OGR Stock Denton also has a wealth of experience handling LPAs for business owners and the department is able to advise on the specific issues which need to be taken into account when considering the affairs of those who run their own companies.
The firm can also assist those appointed under the old system of Enduring Power of Attorney (which was replaced by Lasting Power of Attorney in 2007) including the registration of these documents.
For advice on any aspect of Lasting Power of Attorney, please visit our contact us page.