What is a Lasting Power of Attorney?
A Lasting Power of Attorney (LPA) – is a document which allows you legally to designate one or more people to control your affairs if you find yourself in a position where you cannot do so yourself. This could be the result of injury, illness or a degenerative condition commonly associated with old age.
Before October 2007, a Power of Attorney that could last the incapacity of the person who granted it was known as an Enduring Power of Attorney.
There are two kinds of LPA: Health & Welfare and Property & Financial Affairs.
It may make you feel uncomfortable to think of yourself in a situation in which you can no longer make your own decisions. However, having an LPA in place reassures you that people you trust can make decisions on your behalf should the need ever arise.
The LPA can be activated if you lack mental capacity. This means you do not have the ability to make a particular decision that has to be made at a certain time.
At Lanyon Bowdler, we can help you put an LPA in place for either health and welfare concerns or for your financial affairs. You will then be able to trust that your interests will be protected in the future.
If you require further advice on how to make a Lasting Power of Attorney, contact us today and speak to one of our friendly lawyers.
Health & Welfare LPAs
This is required if you lose mental capacity. It covers decision making such as:
- where you live if your home is no longer suitable
- medical care
- life-saving treatment decisions
For your LPA to be activated (so that your attorneys can actually make decisions on your behalf in circumstances where you no longer can) it has first to be registered with the Office of the Public Guardian.
Property & Financial Affairs LPAs
If you authorise, this can be activated when you are still mentally capable but want some assistance concerning your financial affairs.
You can control what decisions are made on your behalf. If you wish, your attorney can be asked to make all of your financial decisions.
Some of the financial decisions covered:
- payment of bills
- buying/selling property
- mortgage payments
- collecting any benefits on your behalf
- making an investment
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