Does Everyone Need a lasting Power of Attorney?
We all want to feel that we are in control of our lives and affairs. Have you ever wondered who would deal with your affairs if you could no longer deal with them yourself due to a physical or mental incapacity? For example, an accident, sudden ill health or dementia could put you in a position where you can no longer handle your day to day affairs yourself. Even old age brings situations where you may feel the need to pass your responsibilities onto others. These are the situations where you may consider the need for Lasting Powers of Attorney (LPAs).
What is a lasting Power of Attorney?
An LPA is a legal document where you can appoint people that you trust to help you manage your affairs or manage your affairs on your behalf if you are unable to do so yourself. There are two types of LPA: Property & Financial Affairs and Health & Welfare. A Property & Financial Affairs LPA allows your attorneys to help you make decisions in relation to your money and property, such as paying household bills or selling your property. A Health & Welfare LPA allows your attorneys to make decisions about your daily care routines and medical treatments.
key points about lasting Powers of Attorney
- Making LPAs means that you get to choose who you would like to handle your financial affairs and your health and welfare. Without LPAs, the Court or Protection will assign someone to act on your behalf, rather than you choosing the people you trust to deal with your affairs.
- You can choose to make both types of LPA or one or the other, depending on your circumstances.
- The Property & Financial Affairs LPA can be used whilst you still have your mental capability if you require any help but in this case your attorneys can only act on your instructions. If you lose your mental capability, your attorneys would be able deal with your financial affairs on your behalf. The Health & Welfare LPA only comes into effect if you lose your mental capability.
- You can appoint multiple people to act as your attorneys and deal with your affairs. It is a good idea to appoint more than one attorney in case your attorney is unable to act for you for any reason.
- A Certificate Provider will ensure that you have agreed to make your LPAs of your own free will and have not been forced into making them.
- LPAs must be sent to the Office of the Public Guardian to be registered before they can be used.
- If an attorney is suspected of abusing their position, or are not acting in your best interests, the Court of Protection can step in and resolve the situation.
Norton Peskett Solicitors
If you are still wondering whether you should make LPAs, then we would be happy to give you some further advice and answer any queries you may have.
For more information about lasting power of attorney, we invite you to get in touch with us today.