Lasting Power of Attorney
A Lasting Power of Attorney (LPA) lets you choose who will make important decisions about your health, care and finances if you ever lose capacity to do so yourself.
Protect your loved ones
Separate to your Will, an LPA is a legal document that is completed and then registered at the Office of the Public Guardian. It is triggered when you are still alive and enables your nominated, trusted Attorney(s) (eg spouse, close relative or friend) to look after your affairs or make decisions on your behalf if you are ever mentally incapacitated through accident or illness.
There are 2 types of Power of Attorney:
1) Health and Welfare
2) Property and Financial
An accident, hospitalisation, unforeseen illness, stroke, fall or dementia for example could leave you deemed incapable of making important financial or welfare decisions in the eyes of the law so it is important that you take time while you are fit and well to make arrangements and register a trusted person/s to step in when you need it most.
Health & Welfare:
Your Health and Welfare agreement will enable your chosen Attorney to have ultimate control over important care decisions.
Many people don’t realise this legislation until it is too late. We have heard tragic stories of families being split up because in the absence of Health and Welfare LPAs, Social Services have taken control against close families wishes and relocated helpless elderly residents to cheaper areas for their care!
Property & Financial:
Did you know that legally, if a bank account holder was to lose capacity, banks can decide to temporarily restrict the use of the account until a deputy has been appointed through the courts? This even applies to joint bank accounts and married couples - so spouses are not automatically entitled to access their partners funds, even if held in joint accounts.
How would your family cope if you had an accident or sudden illness and then they couldn’t access the primary family funds?
Self Employed & Business Owners
If you run a business, particularly if you are self employed, you should consider what would happen if you have an accident or sudden illness and were unable to work.
With an LPA you can nominate a trusted individual to seamlessly take over your business, either to continue trading or to wind up your affairs and close bank accounts on your behalf.
Professional Attorneyship
Choosing a professional attorney for your Financial LPA gives you confidence that your finances decisions will be handled properly, legally, and exactly as you wish—taking the worry off your shoulders.
We are professionals in this field and understand the importance of the continuity of financial assistance where an individual is unable to effectively deal with their financial affairs through a long-term illness, disability or, the loss of mental capacity. Benefits include:
- Help you make financial decisions regarding any or all of your property and financial affairs
- We follow the statutory principles imposed by the Mental Capacity Act 2005
- Will, as far as possible, help you make financial decisions with minimal intervention. This enables you to maintain control over your financial affairs for as long as possible with the reassurance that we are there to help you as and when you need us to.
- Always act in your best interests taking into consideration your views, beliefs and any other factors you feel strongly about. This could mean closely working with your Health and Welfare Attorneys
- Continuity – when appointing an individual, they may fall ill, not have time or, do not wish to act which could result in your liabilities not been paid on time. At a time when you are vulnerable this additional worry can be alleviated by having a professional attorney.
Lasting Power of Attorney
Frequently Asked Questions
Please contact us for more information or to help with specific questions
Question 1: Whats the difference between the two LPAs?
A Health and Welfare LPA covers decisions about your care, treatment and living arrangements. A Property and Financial Affairs LPA deals with your finances, such as managing bank accounts, paying bills and selling property.
Question 2: Who should have LPAs?
Anyone over 18 can make an LPA. It’s particularly important if you want to stay in control of who would make decisions for you if you lose mental capacity due to illness, accident or ageing.
Question 3: What happens if I do not make LPAs?
If you lose capacity without an LPA in place, your loved ones would need to apply to the Court of Protection to make decisions on your behalf. This is a slower, more expensive and more stressful process, typically taking 6-12 months to resolve.
Question 4: Is an LPA the same as a Will?
No. A Will takes effect after you die. An LPA is used while you are still alive but unable to make certain decisions for yourself.
