Just over a year since the Government introduced the Lasting Power of Attorney (LPA), a local solicitor is recommending that younger people consider it as a way of protecting their dependents. The LPA is a legally binding way for a person to pass responsibility for the key financial and welfare decisions that affect them to one or more nominated people. It is particularly designed to help anyone who is concerned about their future ability to make such decisions for themselves. According to local solicitor Danny Carter of Gepp & Sons in Chelmsford, "There is a widespread assumption that the LPA is just for older people. In these uncertain times, however, there is a strong case to be made for anyone to take one out as a form of protection against things going wrong, such as an unexpected illness or accident affecting a family's main breadwinner. Danny Carter also highlights the fact that there two kinds of LPA, although it is possible to draw up both at the same time. "The Property and Affairs LPA allows you to choose someone to decide how your money should be spent, while the Personal Welfare LPA enables you to appoint someone to manage your healthcare and other needs. "Drawing up an LPA can be a complicated process, but it is made much more straightforward if you have the help of a solicitor. Call us on 01245 228107 for help and advice on how to take this important step." - ends - Notes to Editors: • For additional information or comment please contact: Danny Carter of Gepp & Sons.
Protecting yourself against the unknown