With old age comes the need to carefully consider the planning of finances and care options. When an elderly person becomes unable to effectively make decisions, they are unfortunately vulnerable to abuse or mistreatment.
Steps can be taken to protect finances and follow a person’s wishes for the future.
LPA
A Lasting Power of Attorney ensures that only those that you trust are able to make decisions about your finances so that those who do not have your best interests at heart do not take advantage. You will enlist those who you trust are able to maintain control.
Only authorised persons can access accounts, bills, statements and finances, making it difficult for funds to be misused by those who are not allowed.
The likelihood of coercion, influence, scams or fraudulent activity is reduced, as an LPA requires an independent signatory or witness and a certificate provider.
All LPAs are registered with the Office of the Public Guardian, which can investigate signs of abuse. Having an LPA in place allows early intervention from trusted representatives without the costly and time-consuming process of applying for a deputyship order.
Organising an LPA
A lasting power of attorney enables your loved ones to make important financial decisions on your behalf. Whilst considering your future may seem daunting, by engaging in forward planning you are empowered to make decisions that are right for you.
Organising a lasting power of attorney online is more cost-effective and convenient than you would imagine with expert providers such as https://powerofattorneyonline.co.uk/, who can deal with lasting power of attorney documentation relating to both financial matters as well as health and care matters.
A lasting power of attorney can be organised online, and often for a fixed fee. This provides a convenient way of arranging your future financial affairs and/or care needs.
