Lasting Power of Attorney (LPA)
There are two types of LPA – A Property and Financial Affairs and a Health and Welfare.
An LPA for Property and Affairs is a legal document which enables you to appoint one or more persons to manage your financial affairs and property.
If you lose mental capacity and have not made a Lasting Power of Attorney, your affairs may have to be managed by a receiver appointed by the Court of Protection. This can be distressing and time-consuming to those dealing with your affairs, and costly to you.
Appointing someone you trust and drawing up a Lasting Power of Attorney will allow you to provide yourself with a lifeline if, through illness or accident, you are unable to handle your affairs properly and effectively.
An LPA for Health and Welfare can give your attorney the power to make decisions involving:
- Your daily routine (e.g. washing, dressing and eating)
- Medical care
- Moving into a care home
- Life-sustaining treatment
Lasting Powers of Attorney should always be considered as part of an effective estate planning strategy.
Legal services are not regulated by the Financial Conduct Authority.