At some point, we come to the realization that we will be absent from the lives of our loved ones, this happens either through our demise or incapacity. Estate planning is where we ensure that our loved ones are financially protected, that there is no unnecessary leakage of wealth over what was painstakingly built up over a lifetime and if there is a legacy, that legacy is continued on.
Advantages: Choose who takes care of you and who manages your assets if there is a loss of mental capacity
The lasting power of attorney allows a person to appoint one or more persons to act and make decisions on his behalf when he lacks mental capacity in the future. When a person lacks mental capacity, he will be unable to take care of his living and medical expenses. If an LPA has not been drawn up, there will be inconvenience, delay and expenses to the family as they will have to apply to Court for the appointment of a Deputy to make decisions on his behalf. Get started on our website today! (link to starting the form)