Lasting Power of Attorney
What is a Lasting Power Of Attorney?
A Lasting Power Of Attorney is a document that enables you to appoint a person or persons with the legal authority to make decisions about your financial and personal affairs, which can include guidance and instructions as to how they should act.
A LPA can safeguard your financial affairs and you can also include in it what your express wishes would be under certain circumstances while receiving medical treatment.
There Are Two Types Of LPA – one for property and finance and another for health and welfare.
Who Can Be Your Attorney?
Your attorney needs to be 18 or over. They could be:
A relative
A friend
A professional, for example, a solicitor
Your husband, wife or partner
You must appoint someone who has the mental capacity to make their own decisions.
People can only set up a lasting power of attorney when they have mental capacity. Once they’ve lost capacity, it’s too late!
Property and Finance LPAs
Allows decisions to be made about:
Paying bills and insurances
Dealing with bank and building society accounts
Collecting pensions and claiming, receiving & using any benefits
Buying and selling your house
Giving gifts, etc…
Health & Welfare LPAs
Allows decisions to be made about:
Medical treatment & medications
Social care (what support you may need from social services)
Where you live (perhaps you need to move to a residential home, choosing the right care home for you)
Day to day issues such as your diet, dress and daily routine, etc…
With a Health & Welfare LPA your attorneys can only make decisions for you if you lack mental capacity, this is a vital safeguard.
Having a Lasting Power of Attorney means you have a great deal of control about what happens to you…
The Benefits of a Lasting Power of Attorney
Regardless of health, everyone should consider having a Lasting Power of Attorney. Having one in place means you have a great deal of control about what happens to you if you were to lose mental capacity and it allows you to plan in advance.
Having an LPA is a safe way of maintaining control over decisions made for you, because it cannot be used until it has been registered with the Office of the Public Guardian. Your attorneys must follow the code of practice of the Mental Capacity Act 2005 – If they don’t act in your best interests the OPG can step in and your attorneys may be held accountable.
In short; a Lasting Power of Attorney can protect your assets and ensure you receive the care you would expect.
The Heather Bateman Story
The video shown on BBC’s One Show gives a brief overview of the financial impact and emotional turmoil that was added to Heather Bateman’s awful situation with her husband being hit by a car.
Without an LPA you can face great difficulties including losing control of the bank account in the name of the person who has lost capacity, this includes joint bank accounts!
or call 0151 678 7466 for a friendly chat.
We can also advise on Asset Protection Trusts and Specialist Will Writing