Lasting Power of Attorney
A lasting power of attorney (LPA) is a legal document that allows you to appoint someone to make decisions on your behalf if you become unable to do so in the future. This can be due to illness, injury, or old age.
Having an LPA in place ensures that your wishes are respected and that someone you trust will manage your affairs and make important decisions for you when you are no longer able to do so. The features of an LPA include the ability to choose specific individuals to act as attorneys, as well as the option to set out instructions for how you want your affairs to be managed.
The advantages of having an LPA are peace of mind, knowing that your interests will be protected, and avoiding potential conflicts among family members regarding decision-making authority.
For customers, the benefits of having an LPA include maintaining control over their financial, health, and personal welfare matters even if they are incapacitated. Overall, having a lasting power of attorney in place provides security and protection for both yourself and your loved ones during challenging times.
Frequently asked questions
Here are answers to some commonly asked questionsÂ
Does my LPA need to be registered?
Your lasting power of attorney needs to be registered with the Office of the Public Guardian before your attorney’s can act on your behalf. Whilst publish guidelines indicate it can take upto 20 weeks; we have encountered situations where the time taken to register a lasting power of attorney is significantly longer. You should therefore submit it for registration as early as you can.
I have a standard power of attorney – is that good enough?
A standard power of attorney serves a similar purpose to a lasting power of attorney. However, in the event that you lose mental capacity a standard power of attorney automatically becomes invalidated. This is where a LPA offers a significant advantage. We would therefore recommend getting an LPA instead.
What are the benefits of a Health & Welfare Lasting Power of Attorney
Use this LPA to give an attorney the power to make decisions about things like:
- your daily routine, for example washing, dressing, eating
- medical care
- moving into a care home
- life-sustaining treatment
What are the benefits of a Property and financial affairs Lasting Power of Attorney
Use this LPA to give an attorney the power to make decisions about money and property for you, for example:
- managing a bank or building society account
- paying bills
- collecting benefits or a pension
- selling your home