Partner Article

Getting All Your Legal Bases Covered

We live in uncertain times. The truth is, we always have. Arguably, we live a better life now than our ancestors did. We have better healthcare, as a result of continuously evolving improvements in both the technology and the application of sound medical practices. And yet, there are certain ailments, such as cancer, for which there still seems to be no definitive solution. Additionally, the invention of the automobile and airplane have created additional potential situations where one can be injured, sometimes fatally. So, even though we may feel safer and more comfortable than ever before in the history of mankind, we are still at risk from a wide variety of sources.

It May Become Important for Someone to Manage Your Affairs

As an adult, or even possibly head of a household, there are a lot of responsibilities that you have to manage on a daily basis. If one should suffer any kind of impairment, either through disease or an unforeseen accident, they need to be able to continue to be properly managed. To do so, a responsible person should have a power of attorney executed, granting the right to someone that they trust to carry on their affairs if they’re no longer able to do so for any reason. In England, these documents are typically referred to as a Lasting Power Of Attorney, known as an LPA, and they allow a person’s affairs to continue to be managed in a responsible way. There are so many daily issues that arise: we often take for granted that they will be handled properly. These can involve such things as ownership of a house, or even access to bank accounts that the family needs to be able to pay bills and general living expenses. A person who has been granted such a document can ensure that these issues will not become major problems, and that, acting on one’s behalf, the family can continue to survive without additional complications.

There may be some details which you may have always taken for granted, such as paying for the mortgage on your home. If you become incapacitated, the LPA can ensure that the person that you have entrusted with your affairs can continue to make all the necessary payments on your behalf, including any utility bills associated with the home. If you own a business, there are going to be myriad decisions that have to be made to allow it to continue to run successfully. Depending on the circumstances of the business itself, the person who has received the LPA may need to make the painful decision to wind down the business, or sell it, allowing the family to receive any proceeds that are available.

These Are Not Easy Decisions

Obviously, no one wants to think about worst-case scenarios. And yet, one must always be prepared for such an eventuality. By choosing a person of absolute trust, and granting them a power of attorney, one can ensure that one’s family remains fully protected and not left to the vagaries of chance.

This was posted in Bdaily's Members' News section by Guest Posting UK .