What is a Lasting Power of Attorney?
A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint people to make decisions on your behalf if you lose the ability to do so yourself. The ‘lasting’ part signifies that the LPA remains valid even if you lose mental capacity.
Here's some key terms you should know:
- Donor: This is you—the person who creates the LPA and appoints others to act on your behalf.
- Attorney: This is the person you choose to make decisions for you under the LPA. Your Attorneys will step in to manage your affairs if needed.
- Mental Capacity: This refers to your ability to make decisions at any given time. If you lose mental capacity, your Attorneys can make decisions for you to ensure your needs are met.
Types of LPA
There are two types of LPA. You can choose to create one or both, depending on your needs and preferences.
1. Property and Financial Affairs LPA
This gives your chosen Attorneys the authority to handle your financial matters and property. This can include tasks such as:
- Managing your bank accounts and investments
- Paying bills and collecting pensions/benefits
- Buying or selling property
- Handling tax affairs
You can decide whether you want this LPA to be effective only when you lose mental capacity or also while you are still able to make decisions yourself. This flexibility can be useful if you need assistance with managing your finances for any reason.
2. Health and Welfare LPA
This LPA allows your Attorneys to make decisions about your health and personal care. They can help with matters such as:
- Making choices about medical treatments and procedures
- Deciding on your daily care and living arrangements
- Choosing where you live, such as a care home
- Deciding whether to refuse life-sustaining treatment if that becomes necessary
This type of LPA only takes effect if you lose the ability to make these decisions on your own. It ensures that someone you trust will make important decisions about your health and well-being when you cannot.
What About Enduring Powers of Attorney?
Enduring Powers of Attorney (EPAs) were used before October 2007 to allow someone to make decisions on your behalf if you became unable to do so yourself.
If you currently have an EPA and are wondering whether it’s time to update to a Lasting Power of Attorney (LPA), we’re here to help. Updating to an LPA might offer additional benefits and more comprehensive coverage for your needs.
We have a dedicated page with more information on Enduring Powers of Attorney.
Get in Touch
If you're looking to create an LPA and have any questions or need guidance on the best options for your situation, please don’t hesitate to get in touch.
Our team is here to provide the support and advice you need to make the right decisions for your future.
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