Wrigley Claydon Solicitors

Tag: lpa

  • Lasting Powers of Attorney solicitor Oldham

    Lasting Powers of Attorney solicitor Oldham

    What is a Lasting Power of Attorney?

    A legal document that allows you to choose someone (an attorney) to make decisions on your behalf. There are two types of Lasting Power of Attorney (LPA):

    Personal Welfare

    Your Attorneys can make the decisions you make on a daily basis regarding your personal welfare. This can include your diet, what medical treatment you receive or where you live. This type of LPA can only be used by your Attorney when you can no longer make these decisions for yourself.

    Property and Affairs

    Your Attorneys can make decisions about your property and finances. This can include accessing your bank or building society accounts, managing your finances or selling your property. You can decide whether your Attorneys make decisions whenever you want or only in situations when you lack capacity.

    Why should I create a LPA?

    You may wish to prepare for the future. For a time when, because of mental or physical difficulties, you are not able to manage your own affairs. You may travel abroad a lot and need someone to manage your affairs whilst you are away, you could be in an accident and someone may need to access your bank account to pay for your care, you may have strong views about the medical treatment you receive – if you lose capacity who would express these views for you? A LPA gives you peace of mind that your affairs are in order and it is you that has decided who will make those decisions for you, a LPA is like an insurance policy, invaluable should the need arise.

    Who can make a LPA?

    Anyone aged 18 or over, with the mental capacity to do so.

    What happens if I don’t make a LPA?

    Nobody has the power to make decisions on your behalf. If you lose mental capacity then someone (usually a loved one) would have to apply to the Court for an Order to make decisions on your behalf (called a Deputyship Order). It is very costly and usually takes the Court six months to reach a decision, sometimes this is too late.

    To complete a Lasting Power of Attorney or to discuss this further, please contact our Wills, Trusts and Probate team on 0161 624 6811 or email Rachel Damianou.
  • Powers of attorney for business owners

    Powers of attorney for business owners

    When you set up a new business, one of the first things you need to put into place is insurance. Whether this is employers’ liability insurance, buildings insurance or contents insurance, it makes sense to know you’re protected. But what would happen to your business if you were no longer there or able to take care of it? This is where Lasting Powers of Attorney (LPA) can help.

    Appointing an attorney is like taking out another form of insurance for your business – it’s the peace of mind in knowing that someone you trust will be there to take care of things if you aren’t able to do so. Problems with the business could affect a range of people – from your customers who may be reliant on your service or products, to your employees who depend on their wages, to your family who may feel the strain should your business suffer. While it may seem obvious who would take over your business affairs if you were required to stop working, an LPA is required for this to go into affect. Without an LPA, your trusted partner or colleague would not have an automatic right to handle your affairs and there is no guarantee of what would happen to your business, so it needs to be formally put in writing.

    But who should you appoint? A business Lasting Powers of Attorney is different to a personal Lasting Powers of Attorney and it’s important to know what you are granting someone the power to do. In most circumstances, an attorney is able to buy and sell property, organise insurance, access bank statements and accounts, invest assets, and deal with taxes on your behalf – so it is crucial you choose someone you trust. Unlike a personal LPA, a business attorney may not necessarily be a friend or relative, but rather someone who knows the business well and who you trust with your professional affairs. If you have a business partner, they would be the obvious choice. Should you not have just one person who you trust with everything, you may be able to elect more than one attorney – for example, you may wish to elect a colleague to take care of accounts and business decisions, but a family member to take care of property or assets.

    Following recent changes in the law, appointing an attorney is now significantly more complicated. We have created an information sheet, outlining all the necessary information required to make and implement your decision, however, we highly recommend contacting a trusted solicitor. Our team of professionals have years of experience and can assist you from the beginning to the end of the process, ensuring that your business is in safe hands.

    To speak to our probate team, contact us on 0161 624 6811 or send us a message through our contact form.