• Contact us
  • About us
  • Digital edition
  • Online archive
Monday, June 23, 2025
Cumberland and Westmorland Herald
  • News
    Is outsourcing a strategic opportunity amid rising employment costs?

    Is outsourcing a strategic opportunity amid rising employment costs?

    Farms focus on cashflow following SFI scheme closure

    Farms focus on cashflow following SFI scheme closure

    MP asks for Government help over plans to replace M6 bridges

    MP asks for Government help over plans to replace M6 bridges

    Resurfacing work to start in Shap – road to be closed for 21 days

    Resurfacing work to start in Shap – road to be closed for 21 days

    Arrests after drugs raid in Penrith

    Arrests after drugs raid in Penrith

    New Kirkby Stephen shop blends retail with purpose

    New Kirkby Stephen shop blends retail with purpose

    New vicar appointed for churches

    New vicar appointed for churches

    Award for Eden writer

    Award for Eden writer

    Penrith man admits possessing cannabis twice with intent to supply

    Penrith man admits possessing cannabis twice with intent to supply

  • Sport
    Medal success for Upper Eden tug-of-war team

    Medal success for Upper Eden tug-of-war team

    Eden man competes in Hyrox World Games

    Eden man competes in Hyrox World Games

    Double national triumph for Stuart Robinson

    Double national triumph for Stuart Robinson

    Patterdale’s Eden Eagles make history

    Patterdale’s Eden Eagles make history

    Penrith teen crowned British vault champion

    Penrith teen crowned British vault champion

    Penrith gymnasts represent North of England in finals

    Penrith gymnasts represent North of England in finals

    New boss revealed for Penrith AFC

    New boss revealed for Penrith AFC

    Penrith Panthers celebrate winning season

    Penrith Panthers celebrate winning season

    Darren Edmondson leaves Penrith AFC

    Darren Edmondson leaves Penrith AFC

  • Obituaries
  • Nostalgia
  • Online archive
  • Buy Photos
  • Buy your paper
  • North Lakes Living
No Result
View All Result
Cumberland and Westmorland Herald
  • News
    Is outsourcing a strategic opportunity amid rising employment costs?

    Is outsourcing a strategic opportunity amid rising employment costs?

    Farms focus on cashflow following SFI scheme closure

    Farms focus on cashflow following SFI scheme closure

    MP asks for Government help over plans to replace M6 bridges

    MP asks for Government help over plans to replace M6 bridges

    Resurfacing work to start in Shap – road to be closed for 21 days

    Resurfacing work to start in Shap – road to be closed for 21 days

    Arrests after drugs raid in Penrith

    Arrests after drugs raid in Penrith

    New Kirkby Stephen shop blends retail with purpose

    New Kirkby Stephen shop blends retail with purpose

    New vicar appointed for churches

    New vicar appointed for churches

    Award for Eden writer

    Award for Eden writer

    Penrith man admits possessing cannabis twice with intent to supply

    Penrith man admits possessing cannabis twice with intent to supply

  • Sport
    Medal success for Upper Eden tug-of-war team

    Medal success for Upper Eden tug-of-war team

    Eden man competes in Hyrox World Games

    Eden man competes in Hyrox World Games

    Double national triumph for Stuart Robinson

    Double national triumph for Stuart Robinson

    Patterdale’s Eden Eagles make history

    Patterdale’s Eden Eagles make history

    Penrith teen crowned British vault champion

    Penrith teen crowned British vault champion

    Penrith gymnasts represent North of England in finals

    Penrith gymnasts represent North of England in finals

    New boss revealed for Penrith AFC

    New boss revealed for Penrith AFC

    Penrith Panthers celebrate winning season

    Penrith Panthers celebrate winning season

    Darren Edmondson leaves Penrith AFC

    Darren Edmondson leaves Penrith AFC

  • Obituaries
  • Nostalgia
  • Online archive
  • Buy Photos
  • Buy your paper
  • North Lakes Living
No Result
View All Result
Cumberland and Westmorland Herald
No Result
View All Result
Home Expert advice
This article appears as part of a paid partnership with Armstrong Watson

New legislation aims to improve Lasting Power of Attorney system

By Justin Rourke, head of advice, Armstrong Watson

by CWH
8 November 2023
in Expert advice, News
A A
Share on FacebookShare on Twitter
Justin Rourke

The process of completing a Lasting Power of Attorney (LPA) has often been considered time-consuming and confusing, but new legislation aims to modernise this process and could be a vital piece of the jigsaw when it comes to implementing a secure financial plan for you and your family.

The Powers of Attorney Act 2023, which received Royal Assent in September, has been introduced to make the system easier to access, quicker to use and more secure from fraud.

The act will bring into operation a new online system for registering LPAs alongside an improved paper application process.

In light of Talk Money Week, it is important to consider a Lasting Power of Attorney and to talk to loved ones about your wishes for the future.

What is a Lasting Power of Attorney?

A Lasting Power of Attorney (LPA) allows you to appoint one or more people (the attorneys) to make decisions on your behalf, about your financial affairs and/or property, or your health and/or welfare, should you lose the mental capacity to do so yourself.

It is a legal document that specifies who your attorneys are, giving you more control should you have an accident or illness that results in you being unable to make your own decisions.

Why is Lasting Power of Attorney important?

Many assets are held in single names, sometimes because one partner has a preferential income tax position to another, but the intention may still be for the asset to be shared (such as buy to let property, bank accounts, or share portfolios), and likewise, some contracts can only be held in a sole name (such as personal pensions and ISAs).

This can be good planning, but there may also come a time where the owner of that asset loses capacity and subsequent access to that asset can become tricky.

Loss of capacity is often associated with dementia, but it covers a much wider range of issues and can also be temporary.

Once the owner of an asset held in their sole name is not able to give their authority to access it, the partner or spouse is also unable to access it.

Incapacity is likely to be a time of high stress and not being able to access funds to replace wages, cover travel expenses or medical treatment, will only heighten that stress.

Furthermore, there may also be key medical treatment decisions to be made and it is important to ensure that someone you know and trust is given that authority to fulfil your wishes.

A great deal of focus is correctly placed on writing a Will, however there are also potentially significant benefits of an LPA (though neither should be treated as mutually exclusive).

Good independent financial planning will always be complimented by good legal advice and an LPA is an essential part of having a rounded financial plan that will allow you greater peace of mind in the event of the unexpected.

If you would like more information and advice about LPAs, please contact our Financial Planning Team on 0808 144 5575 or email help@armstrongwatson.co.uk

Related Posts

Is outsourcing a strategic opportunity amid rising employment costs?
Expert advice

Is outsourcing a strategic opportunity amid rising employment costs?

22 June 2025
Farms focus on cashflow following SFI scheme closure
Expert advice

Farms focus on cashflow following SFI scheme closure

21 June 2025
MP asks for Government help over plans to replace M6 bridges
Latest

MP asks for Government help over plans to replace M6 bridges

20 June 2025
Resurfacing work to start in Shap – road to be closed for 21 days
Latest

Resurfacing work to start in Shap – road to be closed for 21 days

20 June 2025
Arrests after drugs raid in Penrith
Latest

Arrests after drugs raid in Penrith

20 June 2025
New Kirkby Stephen shop blends retail with purpose
News

New Kirkby Stephen shop blends retail with purpose

20 June 2025
No Result
View All Result

Stay connected

Facebook Twitter Instagram

Most popular

Eden man competes in Hyrox World Games

Eden man competes in Hyrox World Games

20 June 2025
MP asks for Government help over plans to replace M6 bridges

MP asks for Government help over plans to replace M6 bridges

20 June 2025
Is outsourcing a strategic opportunity amid rising employment costs?

Is outsourcing a strategic opportunity amid rising employment costs?

22 June 2025
Resurfacing work to start in Shap – road to be closed for 21 days

Resurfacing work to start in Shap – road to be closed for 21 days

20 June 2025
New vicar appointed for churches

New vicar appointed for churches

20 June 2025
Penrith man admits possessing cannabis twice with intent to supply

Penrith man admits possessing cannabis twice with intent to supply

20 June 2025
Cumberland and Westmorland Herald Logo

33 Middlegate
Penrith
Cumbria
CA11 7SY

Phone: 01768 862313
Email: news@cwherald.com

Registered in England as Barrnon Media Limited. No: 12475190
VAT registration number: 343486488

Explore

  • News
  • Sport
  • Farming
  • Property
  • Obituaries
  • Nostalgia
  • Your view

Useful links

  • Contact us
  • Photosales
  • Online archive
  • Buy your paper
  • Digital edition
  • North Lakes Living
  • Advertise
  • About us

Follow us on

© Barrnon Media Limited 2025

Terms & Conditions / Privacy Policy / Cookie Policy

This website and its associated newspaper are members of the Independent Press Standards Organisation
Review Your Cart
0
Discount
Add Coupon Code
Subtotal
Total Installment Payments
Bundle Discount
Checkout

 
0
No Result
View All Result
  • Home
  • News
  • Sport
  • Obituaries
  • Nostalgia
  • Online archive
  • more
    • North Lakes Living
    • Buy Photos
    • Buy your paper
    • About us
    • Contact us

© 2020 Cumberland & Westmorland Herald