You will know how important it is to have Lasting Powers of Attorney (LPAs) in place. They appoint people you trust to make the important decisions for you when you might not be able to – it’s a no-brainer really. But what happens when things change, as they always seem to?
Of course, we always recommend you have reserve Attorneys ready to step in if your first attorneys are no longer able to act for you, but what if you want different people to act as your Attorneys after you have made the initial appointment?
Unfortunately, there is no way to amend an LPA. The process must be started again from scratch, and so the first step is to create new LPAs; this is obviously something we can help you with as we are well acquainted with the process. Once new LPAs are completed and registered they will sit alongside your existing LPAs and both sets of Attorneys would be able to act on your behalf. Naturally, this could cause some conflict.
So, if you want only your new Attorneys to act for you, then your old LPAs need to be revoked. This process is relatively simple and uses standard wording within a Deed of Revocation. All you need to do is tell us about your old LPAs and we will arrange for you to sign the Deed. Easy!
If you don’t currently have LPAs, then why not? Get in touch and we can help make sure that the people you trust will protect your assets if you are no longer able to!
Redwood is one of the Souths’ leading Pensions, Investments, Wills, Trusts & Estate Planning providers and we are dedicated to helping families to grow, protect and enjoy their wealth. With our unrivalled knowledge of Estate Planning and Probate, we can advise on any situation. Join us at one of our Free Public Information Seminars: Book online Book Me A Place!, Call us on 01489877 547 or Email info@redwoodfinancial.co.uk to book a FREE Initial Meeting with us to review your financial planning needs.
