A recent survey carried out by STEP (Society for Trust and Estate Practitioners) has shown that only a small amount of people have been taking the opportunity to make Lasting Powers of Attorney (LPAs) during the Coronavirus pandemic.
Yet the importance of having a valid LPA in place cannot be overstated – it means you have empowered people to look after your affairs if you are not able to. Without it, and after a long and expensive process, a court will appoint someone who might not necessarily been the person, who you would have selected.
Even in the current situation we find ourselves in, the documents can be drawn up and signed fairly easily - any member of our Private Client team will be able to assist.
Although, 22% of advisors had seen a small increase in LPAs due to the current crisis. The worrying factor was that 73% revealed they were seeing fewer enquiries or no increase at all. As a result of this STEP are urging everyone to make an LPA as a precaution. After all they play a crucial role in looking after those who are vulnerable.