Lasting Power of Attorney
A Lasting Power of Attorney (LPA) is a vital legal document that empowers you to appoint someone you trust to make decisions on your behalf should you lose the capacity to do so. This foresight ensures that your personal, financial, and healthcare preferences are respected, providing peace of mind for both you and your loved ones. Future planning through an LPA safeguards against unexpected situations, such as illness or age-related incapacity, allowing you to retain control over your affairs by delegating decision-making to chosen individuals.
Our team of experienced solicitors offers tailored guidance to help you navigate the process of creating and registering an LPA, ensuring that your wishes are legally upheld and your loved ones are supported.
What is a Lasting Power of Attorney?
Definition and Purpose
A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint one or more attorneys to act on your behalf if you become unable to make decisions for yourself. This could occur due to illness, injury, or age-related decline. LPAs are fundamental to future planning, ensuring your financial, medical, and personal affairs are managed according to your wishes.
The primary purpose of an LPA is to provide clarity and authority for decision-making in situations where you might otherwise lack the capacity to communicate your preferences. Without an LPA, family members may need to apply to the Court of Protection to manage your affairs, a process that can be lengthy, costly, and stressful. An LPA eliminates this uncertainty by granting trusted individuals the legal authority to act on your behalf, ensuring that your needs and interests are prioritised.
Types of LPAs
There are two main types of LPAs, each designed to cover specific areas of decision-making:
Financial Decisions LPA
A Financial Decisions LPA grants your attorney authority over your financial affairs. This includes managing bank accounts, paying bills, handling investments, and buying or selling property. Attorneys must act in your best interests, keeping detailed records and ensuring transparency in their actions. For individuals with complex financial arrangements, such as business ownership or investment portfolios, this type of LPA ensures that assets are managed effectively, even in times of incapacity.
Health and Welfare LPA
A Health and Welfare LPA enables your attorney to make decisions regarding your medical care, living arrangements, and daily welfare. This type of LPA only comes into effect when you lose the capacity to make these decisions yourself. It can include specific instructions about treatments you do or do not wish to receive, providing a powerful tool for maintaining your autonomy. For example, you can outline preferences for end-of-life care, dietary restrictions, or preferred living conditions, ensuring your values and beliefs are respected.