The flexibility of Lasting Powers of Attorney for Property and Financial Affairs The current COVID 19 pandemic has classified many people as vulnerable and those people have been advised not to leave their homes. Many people assume that Lasting Powers of...
What is a Lasting Power of Attorney?
A Lasting Power of Attorney (LPA) is a legal document which allows a person to appoint people to help make decisions, or to make decisions on their behalf.
The person making the LPA is called the Donor. The person who assists is called the Attorney.
If something happens where a person is unable to communicate their wishes, they will not want anyone, other than trusted family, friends or professionals, making decisions for them. This is why an LPA is such a vital tool.
LPA – Two aspects – Health and Welfare / Property and Affairs
When a person considers making an LPA, we advise them there are two very important aspects to consider. One relates to a person’s health and welfare decisions. The other relates to property and finances.
Health and Welfare LPA
This gives the Attorney the power to make decisions about daily routine, medical care, medical treatment and care home facilities. Bearing in mind, this is only used when a person loses capacity, the LPA is a useful document to ensure those looking after a loved one, understand what the loved one would like them to do.
Property and Finances LPA
This gives the Attorney the power to make decisions about property and financial funds by looking after a bank account, paying day to day bills, dealing with pensions, savings and investments or selling/renting a property.