The importance of getting your affairs in order
It’s key to plan ahead for life’s unexpected events as anything can happen at any time. It is therefore crucial to have your affairs in order should the worse happen. One of our recent cases just reaffirmed the importance of planning ahead.
After undergoing an operation, Sally* contacted our estate planning team to inquire about a Lasting Powers of Attorney (LPA)[i] to enable her family to make financial and medical decisions should the need for this arise.
On the back of the meeting, Sally decided she would like to consider the LPA and a follow up meeting was scheduled for a few weeks later. What couldn’t have been predicted was that during this time, Sally’s condition deteriorated and she was re-admitted to hospital. Her doctor has explained that she cannot now sign an LPA due to her mental capacity and, as such, her family are unable to make decisions regarding her medical care or finances.
The only option that remains now is to apply to the Court of Protection to become Deputies which unfortunately can take months and is considerable more expensive than an LPA.
It’s not always easy to talk about sensitive topics like this but it is important to have plans in place should the worse happen.
Please get in contact with our in-house estate planning adviser if you need any advice or assistance. Remember that the initial assessment is free.
[i] A lasting power of attorney (LPA) helps you appoint people you trust to act on your behalf if you should lose mental capacity.