Lasting Power of Attorney
Would you want to know that somebody you know and trust is in control of your affairs when you are at your most vulnerable and when you need them the most?
Lasting Power of Attorney Guide
Many people find themselves in situations where they are no longer in control of their own affairs. Should you become unable to manage your own affairs, a Lasting Power of Attorney (LPA) is a legal document allowing you to appoint one or more attorneys, of your choice, to help manage your affairs on your behalf.
Essentially, by creating a Lasting Power of Attorney, you are appointing a person (or persons) to make decisions and look after your affairs if you should no longer be able to through a mental or physical incapacity.
Lasting Powers of Attorney are not limited by age, any person over the age of 18 can set one up and anyone over the age of 18 can be nominated as an attorney. You don’t need to feel unwell or be currently incapacitated to instigate a Lasting Power of Attorney.
The main regulation for a Lasting Power of Attorney is that your attorney must act in your best interests at all times.
What are the two types of Lasting Power of Attorney?
There are two types of powers that an attorney is responsible for, either making decisions about your property and financial affairs or making decisions concerning your health and welfare. Attorneys are not permitted to make changes to your will.
Lasting Power of Attorney over Property & Financial Affairs
This allows the attorney to pay bills, deal with banks and investments, arrange and collect benefits or even sell property on behalf of the donor.
Lasting Power of Attorney over Health & Welfare
This allows the attorney to make decisions for the donor to deal with issues such as care issues, where the donor lives and also to give or refuse consent to life sustaining treatment.