Why Lasting Powers of Attorney are essential for Carers
According to figures from Carers UK, around one in eight adults in the UK acts as a Carer for a loved one. That’s a massive 6.5 million people in total, and that’s only set to continue to grow in the coming years. Every day a further 6,000 people take on caring responsibilities, with the total likely to pass nine million by 2037.
However, a recent survey by YouGov on behalf of Carers Trust has highlighted the lack of Lasting Power of Attorney (LPA) agreements in place for carers. The survey found that a massive 82% of respondents had not made an LPA, while even among those who had there were concerning gaps in the understanding of the different types of LPA.
But in truth, drafting LPAs is a sensible move for any adult in any circumstance. LPAs allow an appointed ‘Attorney’ to make certain decisions on behalf of someone who no longer able to make those decisions for themselves. They come in two distinct types – a ‘Property and Financial Affairs’ (P&A) LPA, and a ‘Health and Welfare’ (H&W) LPA.
Having LPAs in place can make life much easier for those caring for you. For example, it may be you need changes made to your home in order to continue living there, such as the installation of a ramp for wheelchair access. Without a P&A LPA, your carer would not be able to use your money to pay for that ramp, so may end up turning to expensive credit.
Carers are often best placed to know exactly what is best for the people they care for, and what decisions they would make if they still had the ability to do so. LPAs empower carers to make those decisions – regarding both your P&A and H&W – with confidence. But without LPAs in place, it can make looking after a loved one so much harder. Arranging LPAs is very simple, inexpensive compared to the costs of not having them, and delivers peace of mind.
Heir Tight Wills helps clients put in place robust provisions and valid documents, to protect their loved ones and their assets both during their lifetime and after their death. For a FREE Consultation to discuss writing or updating your Will & estate planning provisions, contact Rachael Rodgers on 0845 519 7585, or CONTACT US via email.