Advice on Lasting Power of Attorney is not part of the Quilter Financial Planning offering and is offered in our own right. Quilter Financial Planning accepts no responsibility for this aspect of our business.
What is a Lasting Power of Attorney (LPA)?
A Lasting Power of Attorney is effectively a living Will and can be used in both personally and for businesses.
If you lose mental capacity but you are still alive your assets may be frozen. Whilst a deputyship is being granted by the courts which can take up to a year, your loves ones may not then be able to live from day-to-day with the funds available to them, especially if you have dependents.
Do I need one?
Essentially, if you do not have a lasting power of attorney you may be putting yourself and your family at risk.
If you run a business, you should also consider drawing up a business lasting power of attorney, as your personal attorney may not be the right person to manage your business affairs in a worst case event.
For more information on why everyone should have a Lasting Power of Attorney, watch this video.
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Perhaps the most important advice I give to my clients is to plan carefully and do not leave things to chance. My job is to help you grow and protect your assets by providing the knowhow you need to make informed decisions about your future. I then help you implement the strategy into a reality. I will work with you over the long term, helping you to build, brick by brick, a successful and robust financial situation.