LASTING POWER OF ATTORNEY (LPA)
A lasting power of attorney (LPA) is often thought of as something an elderly person should consider making. It is a legal document that allows the person making the LPA, known as the donor, to appoint someone they trust, known as their attorney, to make decisions on their behalf in the event they lose mental capacity.
Although there is a link between living longer and a higher risk of developing an illnesses such as dementia, in reality, anyone can lose their mental capacity through some form of illness or as a result an accident. An LPA can therefore be used as an insurance policy so that if anything does happen to you, there is a document in place that identifies who you would like to make decisions on your behalf.
There are two types of LPA:
Property and Financial affairs LPA
Your attorney(s) can step in to help manage your finances. They will be able to gain access to your bank accounts to make payments on your behalf. This could also include selling assets should you have insufficient funds to meet your outgoings. For example, they may need to sell your property to cover your care fees.
Health and Welfare LPA
Your attorney(s) can make decisions about your care, health and medical needs. They will be able to decide if you go into a care home or whether or not you consent to surgery. You can also give them authority to make decisions regarding life-sustaining treatment.
It is a common belief that a family member or next of kin can make decisions if you lose your mental capacity. However, when the time comes, they often find that they are very limited as to what they can do.
If you lose your mental capacity and do not have an LPA in place, your family may be required to make a Deputyship application instead. This process can be expensive and can also take the best part of a year to complete.
If you would like to speak with a member of our team to discuss making an LPA, simply provide your contact details and a suitable date / time to speak with you.