A Lasting Power of Attorney (LPA) is a way of giving someone you trust, your attorney, the legal authority to make decisions on your behalf if you lose the mental capacity to do so in the future, or if you no longer want to make decisions for yourself.
There are two types of LPA, financial decisions and health and care decisions. An LPA for financial decisions can be used once it is registered and 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 financial decisions can cover things such as buying and selling property and investing money.
An LPA for health and care decisions covers health and care decisions and can only be used once you have lost mental capacity. An attorney can generally make decisions about things such as where you should live and your medical care. You can also give special permission for your attorney to make decisions about life-saving treatment.
There are several points worth considering before you grant LPA:
- You can appoint your LPA at any age – After you turn 18 you can set the people you trust to handle your affairs; this does not have to be a parent and can be any person you trust to act on your behalf. To avoid surprises, it is advised that an application be made as soon as possible.
- A common misconception is that your spouse is automatically granted LPA, this is not the case. It is therefore recommended they be assigned POA to protect them from confusion and stress should anything go wrong.
- The process may take some time. In some cases, registration may take up to 20 weeks, so it is important that you fill out the application as soon as possible and far in advance of any situations where it may be necessary, i.e. in the case of degenerative condition.
- The submission of these forms can be carried out independently of any official legal advice, but it is always better to be safe than sorry, as any mistakes can lead to costly delays in the process. Having a solicitor support you in your application will allow it to be handled as swiftly and smoothly as possible.
- Time is not on your side, as once you lose mental capacity, you also lose the ability to assign Lasting Power of Attorney. Instead, family members must apply to the Court of Protection, which is a lengthy and expensive process in comparison. Setting up your LPA early allows your family the peace of mind that your affairs are managed safely by someone you trust.
It is important that you only grant Lasting Power of Attorney to someone you know will have your best interests in mind. They’ll be able to manage your money, property, and healthcare decisions, and will be able to act on your behalf. To avoid any surprises, choose a close friend, partner, or family member that you can trust with your wellbeing.
If you have any questions about how to assign Lasting Power of Attorney, or if you wish to speak to us about how we can support your application, please contact us on 0208 891 4311 for a free no-obligation initial consultation.
