A Lasting Power of Attorney (LPA) is a legal document which allows you to appoint a person or people you trust to look after your affairs.
There are two types of LPA. A Property and Affairs LPA allows you to appoint someone to look after your money and property and a Health and Welfare LPA allows you to choose someone to look after your health and welfare decisions.
Both documents need to be made whilst you are still mentally capable. A Property and Affairs LPA can be used by your attorney(s) whether you have mental capacity or not but a Health and Welfare LPA can only be used when you are not mentally capable of making your own decisions.
Why everybody should make a Lasting Power of Attorney:
- It allows you to choose who you want to look after your affairs if you can’t do so for yourself. If you don’t make an LPA and you become unable to manage your affairs anyone can apply to take over. This person may not be who you would have chosen and the application is very expensive
- A Property and Financial Affairs LPA can be used by your Attorneys to help you on a temporary or permanent basis whether you are physically or mentally unable to do something for yourself
- It makes things easy for your chosen attorneys to help you to look after your money or to make the right decisions about your welfare needs
- An LPA is good preparation for the future
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