Everything You Need To Know About Lasting Powers of Attorney

As experienced power of attorney solicitors in Burton upon Trent, we know that it can be difficult to understand when to create one and if it’s the right document for your requirements. Here we cover some of the most commonly asked questions to help you decide.

What Is a Lasting Power of Attorney (LPA)?

There are two different types of LPA: one that deals with your property and financial affairs and another that deals with your health and welfare. These legal documents allow you to nominate a third party to act in your interests should you become unable to do so yourself.

Why Make a Lasting Power of Attorney?

If you lose mental capacity without creating a Lasting Power of Attorney, it can become a long and expensive process for your next of kin to apply to manage your affairs. If you are in a partnership where finances are shared, there may even be restrictions applied that can severely impact the other party.

By creating a Lasting Power of Attorney, you can be sure that your interests are being handled by someone that you trust rather than someone allocated by the courts.

Who Should Be Your Attorney?

You should choose your attorney carefully and ensure that you trust them to make decisions that are in your best interests. You can usually appoint anyone to be your attorney including family members and friends over the age of 18.

If you appoint a professional, you should take into account any charges that may be incurred for them to look after your affairs.

You can appoint a single attorney or joint attorneys, indicating whether they can make decisions individually or together.

Is There More Than One Type of Lasting Power of Attorney?

There are two different types of Lasting Power of Attorney:

Property & Financial Affairs – A property and financial affairs LPA allows your appointed representative to assist with or make decisions relating to the buying and selling of your property, paying your bills, drawing your pension, and handling your finances and investments.

Health & Welfare – A health and welfare LPA allows your appointed representative to make decisions relating to your medical care and general welfare in the event that you lose mental capacity. This includes making decisions relating to treatment, your daily care, and choosing whether you live at home or in a care home. Some people may also choose to make a Living Will (now known as an advanced decision) at the same time as creating a health and welfare Lasting Power of Attorney to specify any treatments they don’t wish to receive or when they wish to withdraw life-sustaining treatment.

When Can The Attorney Act?

Once the Lasting Power of Attorney has been signed and witnessed by the attorney and the certificate provider (a professional that certifies that you are of sound mind at the time of creating the document), it will be sent to the Office of the Public Guardian where it will be recorded on a national database.

As soon as it is recorded, the Power of Attorney becomes valid. A property and financial affairs LPA will allow the attorney to begin making decisions straight away (unless you specify that your Attorney can only start to use it in certain circumstances, such as should you lose mental capacity.) A health and welfare LPA will only take effect if you lose mental capacity.

What About Existing Enduring Powers of Attorneys?

Enduring Powers of Attorney were replaced by Lasting Powers of Attorney in 2007; however, they still remain valid if they are in place. To ensure the information is accurate and still reflects your wishes, you should review it regularly and update it as required.

If you require advice on creating an LPA, please contact Astle Paterson today on 01283 531366 and our expert lasting power of attorney solicitors will be happy to assist.

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