Lasting Power of Attorney - Put Your Mind At Ease This Christmas

Are you prepared for if the unthinkable happens to you? We're not talking about death here - we're talking about unforeseen illnesses that may incapacitate you either mentally or physically - or both.

Jane from Wills Made Clear, a Will writing service in Derbyshire, breaks down LPA to help you better understand the benefits and the reasons why you shouldn't be waiting until something happens to set up a Lasting Power of Attorney.

When talking to my clients about Lasting Power of Attorney, firstly I need to make them aware that there are two main types: Property and Financial Affairs LPA and Health and Welfare LPA. The Property and Financial Affairs LPA means you can appoint someone to handle your financial matters, like managing your bank accounts or property, in the event that you are unable to do so yourself. On the other hand, the Health and Welfare LPA gives your chosen representative the legal authority to make decisions about your healthcare, including medical treatment and living arrangements, ensuring your wishes are upheld.

Understanding the different types of LPA is crucial for making informed decisions for your future. Whether you're planning for your own well-being or considering options for a loved one, having the right LPA in place can bring peace of mind. So, let's delve into the details and empower you with the knowledge you need to navigate the world of Lasting Power of Attorney.

Understanding the concept of Power of Attorney

Power of Attorney is a legal document that allows someone (known as the "donor") to appoint another person (known as the "attorney" or "donee") to act on their behalf in making important decisions. This can be particularly useful when the donor is unable to make decisions due to physical or mental incapacitation.

A Power of Attorney can either be general or lasting. A general Power of Attorney grants the attorney the authority to act on behalf of the donor for a specific period or purpose, while a Lasting Power of Attorney (LPA) remains in effect even if the donor loses mental capacity. In this article, we will focus on the different types of Lasting Power of Attorney.

Types of Lasting Power of Attorney

Property and Financial Affairs LPA

The Property and Financial Affairs LPA is designed to give your chosen attorney the power to manage your financial matters if you become unable to do so yourself. This can include handling your bank accounts, paying bills, managing investments, and even selling or renting out your property. By appointing someone you trust as your attorney, you can ensure that your financial affairs are taken care of and that your best interests are protected.

To create a Property and Financial Affairs LPA, you will need to fill out the relevant forms provided by the Office of the Public Guardian (OPG). These forms will require you to provide details about yourself, your chosen attorney, and the specific powers you wish to grant them. It is important to carefully consider your choice of attorney and discuss your wishes with them before completing the forms.

Health and Welfare LPA

While the Property and Financial Affairs LPA focuses on managing your financial matters, the Health and Welfare LPA is concerned with decisions relating to your personal welfare and healthcare. By appointing an attorney for Health and Welfare, you can ensure that someone you trust has the legal authority to make decisions on your behalf if you are unable to do so yourself.

The Health and Welfare LPA covers a wide range of decisions, including medical treatment, living arrangements, and even decisions about end-of-life care. It allows your attorney to make choices that align with your wishes and values, ensuring that your voice is heard even if you are unable to communicate your preferences.

Creating a Health and Welfare LPA follows a similar process to the Property and Financial Affairs LPA. You will need to complete the relevant forms provided by the OPG and carefully consider your choice of attorney. It is important to have open and honest conversations with your chosen attorney about your wishes and preferences for your healthcare.

Importance of having a Lasting Power of Attorney

Having a Lasting Power of Attorney in place is crucial for ensuring that your wishes are respected and that someone you trust is able to make decisions on your behalf if you are unable to do so yourself. Without an LPA, decisions about your finances and healthcare may be made by individuals who may not have your best interests at heart.

By creating a Lasting Power of Attorney, you have the opportunity to choose someone you trust to act in your best interests. This can bring peace of mind knowing that your affairs will be handled by someone who understands your values and preferences.

Another important aspect of having an LPA is the ability to plan for the unexpected. None of us can predict what the future holds, and there may come a time when we are unable to make decisions due to illness, injury, or old age. By creating an LPA, you can ensure that you have a plan in place for such circumstances, giving you and your loved ones the security and support you need.

Seeking legal advice for creating a Lasting Power of Attorney

Creating a Lasting Power of Attorney is an important legal process that requires careful consideration and understanding. While it is possible to create an LPA without legal advice, seeking professional guidance can help ensure that the process is carried out correctly and that your wishes are accurately reflected in the document.

A legal professional such as myself can provide valuable advice and guidance throughout the process. They can help you understand the legal requirements, answer any questions you may have, and ensure that your LPA is legally valid and enforceable.

In summary, understanding the different types of Lasting Power of Attorney is crucial for making informed decisions about your future. Whether you choose to create a Property and Financial Affairs LPA, a Health and Welfare LPA, or both, having the right LPA in place can bring peace of mind knowing that your affairs will be handled by someone you trust.

Remember to carefully consider your choice of attorney, have open and honest conversations about your wishes and preferences, and seek legal advice if needed. By taking these steps, Wills Made Clear can help you to create an LPA that accurately reflects your wishes and ensures that your best interests are protected, even if you are unable to make decisions yourself.