Lasting Powers of Attorney
Each stage of life has its own rewards – and its own challenges. As you grow older, it is reassuring to know that someone you trust is able to make the right decisions for you, if you no longer can. A Lasting Power of Attorney (LPA) drafted by one of Lodders’ Care and Capacity specialists will entrust someone with your best interests at heart to make the right decisions about your care, and to ensure your finances are kept in order.
Appointing an attorney to deal with your property and financial affairs is a useful precaution against future incapacity. it can be a complicated and highly specialised procedure and professional advice will ensure you are protected and all duties and responsibilities are understood.
What are Lasting Powers of Attorney?
A power of attorney is a legal document which allows you to give another person (your attorney) authority to make decisions on your behalf. Previously, if you wanted to appoint someone to look after your property and finances, you could prepare an enduring power of attorney (EPA). From the 1st October 2007, no new EPAs can be prepared, and if you wish to appoint an attorney to make decisions on your behalf you need to prepare a new type of power of attorney, a lasting power of attorney (LPA). There are two types of LPA, one in respect of property and financial affairs and one in respect of health and welfare decisions.
Property and financial affairs LPAs
This type of LPA works in a similar way to an EPA, and it will allow your attorney to deal with your property and finances. It is a flexible document that may be used before the onset of any mental incapacity (if you want it to) as well as lasting beyond your incapacity. In order for your attorney to use this power on your behalf the LPA needs to be registered with the Office of the Public Guardian.
Health and welfare LPAs
This is an entirely new type of power of attorney. It will allow your attorney to make welfare and health care decisions on your behalf if you lack the mental capacity to make these decisions yourself. This LPA can only be used if you lack mental capacity, and it also needs to be registered with the Office of the Public Guardian.
Find out more about LPAs in our informative video blog
For more information please contact Lodders’ Care & Capacity specialists on 01789 293259 (Stratford) or 01242 28370 (Cheltenham).