What is Lasting Power of Attorney?
A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint people to manage your affairs when you no longer can. Independent of a Will, a Lasting Power of Attorney gives you peace of mind that your future is in safe hands. Simply choose someone you trust to be your ‘attorney’ and decide when you would like them to start acting.
The types of Lasting Power of Attorney
Property and Financial Affairs
This covers decisions surrounding your bills, finances and property. It can include collecting a pension or benefits, and even selling your home if necessary.
You can choose when you would like your attorney to have power, now or in the future.
Health and Welfare
This allows your attorney to make decisions based on your healthcare, consent to medical treatment and accommodation. It can only be used if you are unable to make your own decisions.
We would recommend setting up both types of LPAs at the same time, as they can only be created while you still have full mental capacity.
What happens without a Lasting Power of Attorney?
If you lose legal capacity and you haven’t set up a Lasting Power of Attorney:
- The courts may appoint someone to manage your financial affairs
- Doctors could over-rule loved ones’ decisions on health matters
- Friends and family may need to go to court to get authority to act on your behalf
- Joint bank accounts could be severely restricted
A person can apply to the Court of Protection to become a ‘Deputy’ of someone who has lost mental capacity. Once authorised, they must send an annual report to explain any decisions they have made as a Deputy.
Save your friends and family worry, time and money in the future by setting up a Lasting Power of Attorney today.
How we can help
Plan 4 Estate can help give you that peace of mind by drawing up an LPA that will see to it that you and your property and affairs are dealt with according to your wishes. We will guide you through the whole process and will register your Lasting Power of Attorney with the Office of the Public Guardian (OPG) for you, making the process as easy and simple as possible. Contact us today for more information about creating a Lasting Power of Attorney.
