The Lasting Power of Attorney (LPA) enables you to appoint a trusted person or persons (Attorneys) to look after your affairs should you be unable to do so in the future because of ill health, accident or infirmity due to old age.
It is essential that LPA arrangements are made whilst you are fit and healthy. Otherwise, it can be emotionally stressful for family / friends to arrange after the event and this can leave loved ones with a multitude of practical problems.
The people you choose to act as your Attorney(s) are required to act in your best interests, and to make decisions as if they were you. They are also required to have regard to the Mental Capacity Act 2007.
There are two types of Lasing Power of Attorney:
- Property and financial affairs – includes finances, such as managing bank accounts, investments, and authority to sell property;
- Health and welfare – handles health and personal welfare such as where to live, day-to-day care or medical treatment.
An LPA must be registered with the Office of the Public Guardian (OPG) before it can be used. An unregistered LPA will not give Attorney(s) the legal powers to make decisions on behalf of the Donor.
Think for a moment…
- Who would handle your financial affairs if you were unable to do so because of an illness or accident?
- What kind of financial pressure would your loved ones experience if your bank account could not be accessed for example?
