A Lasting Power of Attorney appoints someone to make decisions on behalf of a person who is unable to do so for themselves. It can help you plan how your health, wellbeing and financial affairs will be looked after.
A Health and Welfare Lasting Power of Attorney allows you to choose one or more people to make decisions about your personal health and welfare. The Health and Welfare Lasting Power of Attorney can only be used if you lack the ability to make decisions for yourself.
2. Property and Financial Affairs Lasting Power of Attorney
A Property and Financial Affairs Lasting Power of Attorney lets you choose one or more people to make property and financial affairs decisions for you. This could include decisions about paying bills or selling your home. You can include a condition that means the attorney can only make decisions when you lose the ability to do so yourself.
3. Commercial Lasting Power of Attorney
If you run a business and you become incapacitated through illness or accident and there is no LPA in place what happens to the bank account or day to day affairs of the business? Who can enter into contracts? What happens if wages cannot be paid? Is there a risk that the business might fold?
The law changed last year meaning Commercial Lasting Powers of Attorney are now the 'new kid on the block'.
A Commercial Lasting Power of Attorney forms an important part of your business continuity plan.
It allows you to plan in advance:
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