When is the right time to make a Lasting Power of Attorney (LPA)
The actual answer is probably the day before you need it.
However, as ever, life is never that simple as we can never know with certainty when if at any time a LPA will be required.
As such, the next and best option is to plan in advance when you are healthy and able to appoint exactly the person or persons you trust to deal with your affairs in the event that you are unable to deal with them yourself.
This probably means as soon as possible.
Whilst, for the majority of people, an LPA will never be required, any of us could potentially suffer a stroke or another debilitating illness at any time and without an LPA in place, those closest to you may at the very least be left in a “financial limbo” at a very difficult time for everyone involved.
Essentially, if a person does not have an LPA in place and they are unable to deal with their own affairs, the only real option is for an application to be made to the Court of Protection for a Deputyship Order to be made which is both an expensive and time-consuming process.
Solomons Solicitors have vast experience in dealing with Lasting Powers of Attorney and related matters and are able to offer a free initial consultation and fixed fees for your peace of mind.
Please contact us on 01202 802807 and/or pick up our LPA guide here