What is a Lasting Power of Attorney (LPA)?
A lasting Power of Attorney is a legal document that allows you, the Donor, to choose someone you trust, called an Attorney, to assist you with your financial decisions in the event you are unable to do so because of mobility or physical disabilities, or if you become mentally incapacitated because of accident or sickness.
There are two different types of a Lasting Power of Attorney:
- Health & Welfare; and
- Property & Financial Matters.
You have the option of creating one or both documents. The Health & Welfare LPA gives your Attorney the authority to make judgments based on issues like washing, eating, and dressing. It also covers medical treatment, consent for life-sustaining therapy, and entering a care home. This can only be utilized if you are unable to make
The Property & Financial LPA allows your attorney to make financial and property decisions on your behalf. Your bank/building society account can be accessed and managed by the Attorney, as well as paying your bills, collecting pensions or benefits for you, or selling your house. With your approval, this sort of LPA may be used right away.
Why Would I Need One?
Every minute and a half in the United Kingdom, someone is taken to a hospital with a brain injury, whether it’s a result of a road accident or something else unexpected. Some people feel that only older people need to have an LPA created, but this isn’t correct; many parents establish one to ensure that their children are cared for.
It can lead to difficulties if you become mentally incapacitated because of an accident or illness without having established a Lasting Power of Attorney. You’ll be unable to select who has power over your decisions because you won’t have the mental capacity to create an LPA. This might result in your family or friends needing to go to court to make judgments for
Who is an LPA for?
The short answer is that anyone who has mental capacity may create an LPA. Likely, common diseases such as dementia, heart disease, or cancer will leave us helpless as people live longer. You can be certain that if you establish an LPA, someone will rely on it to take over these responsibilities and ensure that you and your family are
Is it Legally Binding?
Your LPA will be legally binding once you’ve been registered with the Office of the Public Guardian. You will still be able to make personal decisions until you choose to give your Attorney permission to act on your behalf or become mentally incapacitated and unable to make decisions for yourself.
No decisions may be made on your behalf by your attorney until you decide to delegate authority or become mentally unable to do so. You will continue to have the ability to make decisions for yourself as long as you remain sane and able to make judgments. With a Health & Welfare LPA, no action can be taken by your counsel until you are no longer
With an AGLCI Attorney, you can choose what type of LPA to have: a Property & Financial LPA or a Health Care LPA. This will allow your Attorney to make judgments on your behalf even if you are mentally capable or unable – this does not imply that they may just take over all your decisions for you right immediately,
Who can be an Attorney?
You can select anybody aged 18 or over who has the mental capacity to act as your attorney, although there are a few limitations. A spouse, a son, a friend, or a professional lawyer such as a solicitor may all serve as your attorney.
When picking a lawyer, there are a few factors to consider. Do you have any prior experience with them? Do you trust them to make decisions in your best interests? How well do they manage their health/financial issues?
You are free to choose more than one individual as your legal counsel. If this is the case, you must decide whether they should make decisions independently or together.
What Happens if I Want a Second Attorney?
If you want to appoint more than one person as your attorney, you must do so at the start of your initial LPA and consider how the attorneys will make decisions for you.
You must decide whether your attorneys operate independently or together. If you want them to make decisions collectively, all hired counsel must agree on a conclusion before it is implemented. This alternative might be worth further study because difficulties can arise if all attorneys need to agree before a decision is made or action taken.
You may also choose to select a replacement attorney, who can step in and represent you if your original attorney becomes unable to act on your behalf.
How Can Mark Reynolds Solicitors Help?
Mark Reynolds experienced Solicitors for Lasting Powers of Attorney can assist and advise you throughout your application. We have offices in Liverpool, Runcorn, Leigh, and Warrington.