There are many reasons to make a Lasting Power of Attorney (LPA) but it is only only when one comes face to face with the very real problems created by not having one that there is a real call to action.
Last week I met a lady client whose husband who is aged under 60 and who suffered a serious stroke a few months ago. Whilst, is is hoped that the lady's husband will make a recovery over the medium term, the lady has been left in an economic limbo in the meantime as her husband has not made an LPA to enable her to deal with his affairs.
Her only option is to make an expensive application to the Court of Protection for a Deputyship Order in order to deal with her husband's affairs and this in itself may take 5-6 months to put in place.
If a LPA had been made and registered beforehand, my client would have been in a position to regularise her financial position very quickly without the very real stress of worrying about her financial affairs at a time when her real concern is care for her husband.
The relatively modest cost of preparing and registering an LPA via a soicitor really is a small price to pay for the peace of mind and security arising out of making one. Please do not hestate to contact me for further information.
