You may or may not have heard of a lasting power of attorney, or LPA, yet some experts believe it is arguably more important than a will. Let’s look at what an LPA is, its purpose, who can have one, and who needs one.
What is a lasting power of attorney?
A lasting power of attorney is a legal document that outlines who you want to deal with your affairs if you no longer have the capacity to do so. It allows you to appoint one or more attorneys to make decisions on your behalf if you don’t have capacity.
There are two main types of LPA, one for health and welfare and one for property and financial affairs
What is a health and welfare LPA?
This type of LPA allows you to appoint an attorney to make health and care decisions on your behalf if you are unable to do so. This includes decisions about medical care and life-sustaining treatments, moving into a care home, and your daily routines.
What is a property and financial affairs LPA?
This type of LPA is used to appoint an attorney to deal with and make decisions about your money and property when you cannot. This includes bank accounts, credit cards, pensions, benefits, paying bills, and selling property.
A financial attorney can also be appointed to assist whilst you still have capacity; however, you must stipulate that this is your wish when registering the LPA.
LPA experts
If you would like to make an LPA of either kind, specialists such as https://powerofattorneyonline.co.uk/ can help. You can now even make a power of attorney online.
Who can make an LPA?
Anybody over the age of 18 who has capacity is permitted to make an LPA of either type.
Who needs an LPA?
Everybody who is over 18 should consider making an LPA. It offers security and peace of mind, as you will know what would happen if you were to be in an accident/become ill and lose your decision-making capacity.