Certainty over the future management of your financial affairs
More than two million Lasting Power of Attorney (LPA) registrations will have been filed by the end of 2016, with the number of appointments more than trebling between 2010 and 2015.
An LPA is used to delegate power to someone to manage an individual’s personal and/or welfare affairs in the event that they become mentally incapacitated.
Talking to your parents or other family members about this is a delicate issue. It is all too easy to take it for granted that you will always be in a position to manage your own affairs. Mental incapacity is something that affects millions of people and by planning ahead it is possible to confront the matter head-on, giving both you and your family some certainty over the future management of your financial affairs, welfare decisions, or both.
Read our factsheet to find out more about a Lasting Power of Attorney