Do you ever get confused by the number of abbreviations used in the legal industry?
Do you ever get confused by the number of abbreviations used in the legal industry?
A Lasting Power of Attorney is a document that allows you to choose someone you trust to make decisions for you in the event that you are unable to make them yourself (for example if you lost capacity). These people are referred to as your attorneys.
A Lasting Power of Attorney (LPA) is a legal document that grants a person or people the power to make decisions on another person’s behalf.
Following on from our recent article about business succession planning we have decided to go into a little more detail about the importance of planning not only for death, but for the events that could happen during your life.
Avoid intestacy If you die without making a Will, known as dying intestate, then your assets will be distributed according to the rules of intestacy. This will mean that the people you would like to receive your estate may not necessarily inherit it. Appoint executors Executors are the people you choose to carry out your...
Making gifts under an LPA Are you an attorney under a Property and Financial Affairs LPA? With Christmas upon us it is important to understand what authority you have as an attorney to make gifts on behalf of the donor at this time. Under section 12 of the Mental Capacity Act 2005 an attorney may...
Reminder – Lasting Power of Attorney. The Office of the Public Guardian released new forms on Wednesday 1st July (2015). The deadline for switching to the new Lasting Power of Attorney forms is Friday 1st January 2016. After this date all new Lasting Power of Attorneys must be made using the new forms. The old...
Mental Capacity concerns being in position of sound mind and being able to make your own decisions. It is ultimately governed by the Mental Capacity Act 2005. There are a number of things that can impair your mental capacity and cause you to lose mental capacity. Examples could be: A stroke Dementia A brain injury...
Have you given any thought to what would happen to your business or businesses if you died or lost capacity? If you haven’t planned for your business succession then you could be lining your family or employees up for some sleepless nights. Not having a ‘business will’ or ‘commercial LPA’ in place which would...