What is a LPA?
A Lasting Power of Attorney (“LPA”) is a legal document that allows a person to appoint someone they know and trust (“attorneys”) to make financial and health decisions, should they lose capacity themselves.
There are two types of Lasting Power of Attorney:-
Property and Financial Affairs
A Property and Financial Affairs LPA gives your attorneys permission to act on your behalf whilst you have mental capacity to make your own decisions concerning your financial affairs and assets. It also allows them to make those decisions if you become unable to do so.
It will give your attorneys authority to:
- Manage your bank accounts.
- Buy and sell property on your behalf.
- Deal with your investments.
- Receive payments or inheritances due to you.
- Pay bills on your behalf.
You can include guidance, or instructions should you have any specific wishes or instructions that you want your attorneys to be aware of.
Health and Welfare LPA
A Health and Welfare LPA can only be used after you have lost mental capacity. It allows your attorneys to make decisions regarding your personal welfare on your behalf, such as:
- Deciding where you should live.
- Your day to day care.
- Giving consent to or arranging medical treatment.
What is required to make a Lasting Power of Attorney?
You must have the necessary mental capacity to make an LPA and it is a requirement that an independent person acts as your certificate provider.
The certificate provider confirms that at the time of making the LPA that you understand the purpose of the document and that you are not being pressured to make the LPA. In order for your attorneys to be able to deal with your affairs and make decisions for you, your LPAs must be registered with the Office of the Public Guardian (“OPG)”.
Who should I make and who should I chose as my Attorney?
You can choose anyone you want to be your attorney, as long as they are over 18. You should consider what an attorney has to do before making your choice and choose someone you trust who will act in your best interests. Both types of LPA give wide powers to your attorneys and professional advice should be taken in making them.
How we can help?
For help, support or more advice regarding LPAs contact our Private Client team who will be pleased to help you.
General Power of Attorney
When is a General Power of Attorney useful? Click here to find out more.
If you would like more information about General Powers of Attorney or if you wish to speak to one of our specialists and arrange an appointment, please do not hesitate to contact us on 08081668860.
Our specialist lawyers can advise on and prepare Power of Attorney documents for you. Contact us for more information.
Enduring Power of Attorney
Prior to the introduction of Lasting Powers of Attorney in October 2007, it was possible to prepare an Enduring Power of Attorney.
An Enduring Power of Attorney allowed you to appoint attorneys to make decisions and deal with your property and financial affairs only. An Enduring Power of Attorney does not allow your attorneys to make decisions about your Health and Welfare. We would suggest that if you have an Enduring Power of Attorney in place that you review the same and ensure that you are happy with the document. To find out if your Enduring Power of Attorney is still valid click here.
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