Recent figures from the Office for National Statistics show that Lasting Powers of Attorney (“LPAs”) are slowly becoming more popular in the UK, but there is still a long way to go. Figures for the year to April 2018 show a record-breaking figure of 759,976 applications for LPAs. This is a huge improvement over the figure a decade earlier of just 52,492 applications.
Increased publicity around the importance of LPAs from high profile figures such as Martin Lewis is clearly starting to register in the public conscience although LPAs still lag some way behind Wills.
In recent research by Direct Line Life Insurance, only 14% of the respondents had made an LPA. Over a third of the respondents did not know what an LPA was and 80% of respondents assumed (incorrectly) that their family or trusted friends would automatically be able to take control over their financial affairs and make medical decisions on their behalf. In fact, without an LPA the only option is an expensive and time consuming application to the Court of Protection.
At Backhouse Solicitors we believe that an LPA is equally as important as a Will and every adult should have one. To find out more, or to book an appointment to make your LPAs, contact our expert private client solicitors today.
The Backhouse Solicitors Team
Tel: 01245 893400
Visit: 17 Duke Street, Chelmsford, Essex CM1 1JU
Or send us a message through the Contact Us page on this website