Lasting powers of attorney (LPAs) are not ‘set and forget’ documents. In this week's NLJ, Ann Stanyer of Wedlake Bell urges practitioners to review LPAs every five years and after major life changes
Alzheimer’s affects ‘one in fourteen people over the age of 65’, making timely planning essential.
Clients should not assume ‘that their attorneys know how to manage another person’s finances’, and clear restrictions—particularly on gifts—can avert costly Court of Protection disputes.
Letters of wishes, though not binding, carry real weight in evidencing a donor’s values and best interests. Without an up-to-date LPA, families risk court intervention or even a local authority deputy.
Proactive conversations now can prevent litigation later, Stanyer writes.
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