A Lasting Power of Attorney (LPA) is a way of giving someone you trust, your attorney, the legal authority to make decisions on your behalf, for instance if you lose mental capacity at some point in the future. The LPA is a legal document made whilst you still have mental capacity. Your family may face long delays and expenses if you fail to establish an LPA and become mentally incapacitated, since they will have to apply to the Court of Protection for access and control of your assets.

There are two different types of LPA’s, and although they are both variations of the same thing- they have very different responsibilities.

 

 

Health & Welfare LPA

 

A Health & Welfare LPA can only be used once you have lost mental capacity, not before. It will cover the following things:

• Where you should live.
• Your medical care.
• What you should eat.
• Who you should have contact with.
• What kind of social activities you should take part in.

You can also give permission for your Health & Welfare attorney(s) to give permission or deny life sustaining treatment.

 

 

Property & Finance LPA

 

A Property and Financial LPA can only be used at your direction, for example if you are out of the country or physically incapacitated, or if you are deemed to lack sufficient mental capacity to continue managing your own affairs. It covers the following:

• Buying, selling and renting your property
• Renovating or repairing your property, if required
• Managing your bank accounts
• Managing your investments
• Paying your household bills
• Paying your nursing or residential care home fees
• Collecting your income (including pensions, state benefits and employment income)

 

It is very important to have an LPA appointed, so that if something were to happen you would have things in place to ensure yours and your family’s well-being without adding any unnecessary stress to an already difficult time. If you would like to learn more about how we can help you implement a Lasting Power of Attorney, contact us today.