What A Lawyer Can Do For You In Terms Of Granting A Lasting Power Of Attorney A lasting power of attorney grants a person the legal authority to conduct financial and legal decisions for another individual or entity. This person may be a family member, a relative or a friend. A person who has been given a lasting power of attorney can administer and deal with all the affairs for someone else. The lasting power of attorney can activated immediately or become active when that person is no longer able to make reasonable decisions for her or himself. A lasting power of attorney is used when a person is unable or incapacitated to make proper decisions for her or himself. Consequences of Having a Lasting Power of Attorney An LPA or a lasting power of attorney legally provides another individual the authority to take care of aspects concerning your financial, health and welfare matters in the event that you are incapacitated to do so. This is not just for people more than 60 years old. Even young people may become incapable of making important decisions if something unexpected happens through an illness or an accident. When something dire happens and you become mentally incapacitated without an LPA in place, your relatives may have to go through long delays and added expenses in the court of protection application just to have access and control of your finances and assets. Before granting a lasting power of attorney to a person, it is important to choose a person that can be trusted. You can select a family relative, a friend, or any appropriate professional but be sure that the person can really be depended upon. Granting a lasting power of attorney to a person is like signing a blank check. A lasting power of attorney is allowed to grant any of the following powers, such as, buy or sell real estate, invest money, file lawsuits, manage their property, make donation on your behalf, addressing tax and retirement issues, and manage bank transactions. Even after you designate a lasting power attorney, you can still make legal decisions as well as manage your finances. The person to whom you assign this responsibility will only act as a valid representative who has the power to make important transactions. While you have the ability to make decisions, you can also instruct the person you have given authority with, to get things done the way you specifically want. You can also monitor that person and ask to keep truthful records of all transactions that had been completed. You can also cancel your lasting power of attorney at any time by notifying your lawyer and all the financial institutions. It is important to consult with a lawyer who can provide the legal advice you need regarding the appropriate and entrusted powers. A lawyer can also provide advice and describe the duties of a person that is given a lasting power of attorney.
A lawyer also guarantees that the lasting power of attorney will be carried out properly and meets all legal requirements specified. If you believe that you appointed a person that is using the lasting power of attorney incorrectly, consider asking for help and advice from a lawyer on how to address this issue. Lasting Power of Attorney is NOT just for the Elderly We must all remember that physical or mental incapacitation can happen to anyone at any age. This is why even experts recommend that a lasting power of attorney be planned ahead to make everyoneâ€™s life easier when the unexpected happens. Setting up an LPA over your financial, property and personal affairs can bring you peace of mind knowing that if anything should happen to you that would make you become incapable of making important decisions, you and your family will be protected. Resource It is best to find a lawyer who can handles cases of lasting power of attorney. If you are looking for a more information regarding the benefits and other advantages of having an LPA, you are urged to visit http://www.avadis.co.uk/lasting-power-of-attorney.php. This resource has all the information you may need regarding this legal matter. If the person you have given lasting power of attorney does not perform his or her duties well, in terms of handling your property, finances, and other belongings, it is best to seek guidance from a reputable lawyer.