There are two types of LPA, each of which perform a separate function.
The first is a Health and Welfare LPA. This legal document lets your chosen attorney make decisions on your daily routine, for example washing, dressing and eating, medical care, what type of treatment you receive and by whom, and if necessary which care home you will live in.
A Property and Finance LPA lets your attorney handle (and make decisions about) your money and property. This can include withdrawing money to pay essential bills, selling your assets or property, collecting your pension, and collecting your benefits or dealing with your tax affairs. If you don’t appoint an attorney whilst you are of sound mind, your family could incur high solicitors and court costs. Putting plans in place now with Capital Life will offset the potential risk and reduce the risk of legal fees.