Lasting Powers of Attorney (LPA) are legal documents that allow an individual (the donor) to appoint one or more trusted persons (attorneys) to make decisions on their behalf if they become unable to do so themselves due to mental or physical incapacity. LPAs are designed to give individuals control over their future care and financial decisions.
There are two main types of Lasting Powers of Attorney:
Property and Financial Affairs LPA: This type of LPA allows the donor to appoint attorneys to manage their finances, including paying bills, managing bank accounts, collecting benefits or pensions, and buying or selling property on their behalf.
Health and Welfare LPA: This type of LPA allows the donor to appoint attorneys to make decisions about their health and personal welfare, including medical treatment, living arrangements, and day-to-day care. It can only be used if the donor lacks the mental capacity to make such decisions themselves.
Key points about Lasting Powers of Attorney include:
Legal Requirements: LPAs must be created while the donor is still mentally capable of making their own decisions. Once signed, they must be registered with the Office of the Public Guardian before they can be used.
Choice of Attorneys: The donor can appoint one or more attorneys to act on their behalf. It's essential to choose someone trustworthy and capable of making decisions in the donor's best interests.
Instructions and Preferences: The donor can include instructions, preferences, and restrictions in the LPA to guide their attorneys in decision-making.
Safeguards: LPAs include safeguards to protect the donor's interests, such as notifying specified individuals (such as family members) when the LPA is registered and providing opportunities for objections.
Lasting Powers of Attorney provide peace of mind by ensuring that trusted individuals can manage important matters on behalf of the donor if they ever become unable to do so themselves. They are an essential part of comprehensive estate planning and can help individuals maintain control over their affairs even in challenging circumstances.