LASTING POWER OF ATTORNEY
What is a lasting power of attorney (LPA)
A lasting power of attorney is a legal document that allows you to appoint one or more people to make decisions on your behalf during your lifetime. The people you appoint to manage your affairs are called the attorneys. A lasting power of attorney is a completely separate legal document to your will although many people put them in place at the same time as getting their will written, as part of planning for the future
What does a lasting power of attorney cover?
There are two types of LPA.
A) One deals with the property and financial affairs
B) The other with health and personal welfare.
A health and care LPA lets your attorney make decisions about your medical treatment and day-to-day care. This can include where you live, what you eat, what medical treatment you receive and who you see.
A financial decisions LPA lets your attorney handle (and make decisions about) your money and property. This can include paying your bills, selling your property, collecting your pension, and collecting your benefits.
What would happen if you do not create a Lasting Power of Attorney (LPA)?
⦁ You will no longer be able to decide who makes decisions for you.
⦁ People you don’t know would end up making crucial decisions for you instead- such where you live, whether to accept medical treatment to keep you alive, what you eat and wear, about your finances, savings, investments, and property.
⦁ Your spouses, children or friends would have to go to the court to make decisions on your behalf which can be more expensive and time consuming than making an LPA.
⦁ Your Sole bank accounts will be frozen.
⦁ Your Joint bank accounts will be frozen in some circumstances.
⦁ You will not be able to pay Bills your money.
⦁ Property can’t be sold, meaning a co-habiting partner can’t move house if they wanted to
⦁ Your Next of kin don’t have the legal right to make decisions about your medical treatment.
⦁ Your Next of kin don’t have the legal rights to make personal choices, for example where you should live.
Bank, pension providers, investment providers, HMRC, utility companies, local authority, GP, consultants won’t speak to such people unless they have legal authority. This can only be given through a registered Lasting Power of Attorney.