Demystifying the world of Wills and LPAs
– Who’s your voice when you need it the most?
By Lucy Bettinson
Let’s talk about Lasting Power of Attorney (LPA)… True or False?
1. “If a couple has a joint bank account and one person can’t make decisions for themselves, their partner can legally make decisions for them.”
This is false, but 73% of people think it’s true.
2. “In a hospital, your Next of Kin always get the final say in treatment decisions if you can’t make them for yourself.”
This is also false, but 72% of people think it’s true.
(The Office of the Public Guardian)
In short, if you had an accident or illness resulting in you becoming unable to make your own decisions, your bank can restrict or even freeze your accounts, including business & joint accounts. Without the correct legal authority in place, your loved ones cannot just “automatically” look after your affairs.
Without LPAs in place, a loved one will need to apply to the Courts which is a lengthy, stressful and expensive process – watch this BBC video clip.
Lucy’s ‘Top Tip’ is…
as this is the only (and arguably most important) document
that protects your interests while you’re still here.”
