What is a Lasting Power of Attorney?
Lasting Power of Attorney known as LPA is a legal document that allows someone to make decisions for you, or act on your behalf, if you are no longer able to or if you no longer want to make your own decisions.
There are two types of LPA:
* LPA for property and financial affairs
An LPA for property and financial decisions can be used while you still have mental capacity or you can state that you only want it to come into force if you lose capacity.
An LPA for property and financial decisions can cover things such as:
1) Buying and selling property
2) Paying the mortgage
3) Investing money
4) Paying bills
5) Arranging repairs to property.
You can restrict the types of decisions your attorney can make, or let them make all decisions on your behalf.
If you are setting up an LPA for financial decisions, your attorney must keep accounts and make sure their money is kept separate from yours. You can ask for regular details of how much is spent and how much money you have. These details can be sent to your solicitor or a family member if you lose mental capacity. This offers an extra layer of protection.
* LPA for health and welfare decisions
This covers health and welfare decisions and can only be used once you have lost mental capacity. An attorney can generally make decisions about things such as:
1) where you should live
2) your medical care
3) what you should eat
4) who you should have contact with
5) what kind of social activities you should take part in.
You can also give special permission for your attorney to make decisions about life-saving treatment.
How do I set up a power of attorney?
To set up a Lasting Power of Attorney, there are many ways, one of which is to get in touch with our specialists by phone or email and we will guide you through the process.
Contact us today to arrange a No obligation Consultation
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