lasting power of attorney
Who do you trust to make your decisions?
what is a lasting power of attorney?
An LPA is a document whereby certain powers are given by an individual (the “doner”) to one or more other individuals (“attorney” or “attorneys”) so that they can carry out acts in connection with finances or health and welfare on the donors behalf.
There are two types of LPA. Property and financial, or health and welfare.
You can only make an LPA whilst you have mental capacity. If you lack mental capacity but don’t have a Lasting Power of Attorney in place, then a friend or relative can apply to the court of protection to apply to become a deputy to make decisions on your behalf. However, drawing up an LPA is quicker and cheaper than applying to become a deputy.
property and financial
This is where decisions need to be taken about your finances (managing your bank accounts and collecting any benefits) and property (selling your home).
A property and financial affairs LPA can be used as soon as its registered, with your permission. If it is to be used at a later date, then you can decide the criteria for when this will be.
health and welfare
This covers decisions as to where to live, daily care and medical treatment.
A health and welfare LPA can only be used when you’re unable to make your own decisions.
benefits of having a lasting power of attorney
You can decide now, while you have capacity, who manages your finances if you lose capacity in the future
It’s cheaper to do it now than your loved ones having to make an application to the court
It’s legally binding so no-one can ignore it
It helps your loved ones deal with your affairs quicker
It can avoid problems with access to pay bills
It provides you and your loved ones peace of mind
How can our solicitors help you?
At Crane and Faris we can help you make an application for a Lasting Power of Attorney (LPA). It is important to plan for your future and by making an LPA, you ensure that key individuals can make appropriate decisions about your finances, health and welfare, should the need arise.
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