Lasting Powers of Attorney enable you to nominate people to make decisions on your behalf if you lose the capacity to take them yourself. They’re an essential aspect of future planning, giving you peace of mind that crucial decisions relating to your health and welfare and financial affairs will be taken by those you trust and enabling your loved ones to manage your affairs if you are unable to do so yourself. Here, we explain what Lasting Powers of Attorney are, when you should put them in place, and how to set up a Power of Attorney.
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What Are Lasting Powers of Attorneys
Lasting Powers of Attorney, known as LPAs, are legal documents under which a person, known as the ‘donor’, names those people whom they wish to make decisions on their behalf if they become unable to do so themselves due to lacking mental capacity. Those people are known as the ‘attorneys’.
Two types of Lasting Powers of Attorneys exist in the UK: Property and Financial Affairs LPAs and Health and Welfare LPAs.
Property and Financial Affairs LPAs permit the attorneys to manage the donor’s financial affairs, including accessing their bank accounts to pay their bills, fund their care, and control any property they own. In the absence of a Property and Financial Affairs LPA, your loved ones cannot deal with your affairs or access your money, even if they are your spouse or civil partner.
Health and Welfare LPAs permit the attorneys to make decisions relating to the donor’s health and welfare. The decisions range from their hygiene routine to medical treatment and lifesaving interventions. In the absence of a Health and Welfare LPA, those decisions would be taken by the relevant professional in control of your case, like a doctor or social worker. Those people should consult with your family regarding your wishes but are not obliged to take them into consideration when reaching their final decision.
When You Should Set Up A Lasting Powers Of Attorney?
Understandably, most people put off making LPAs. When we are fit and healthy, there can seem little need to nominate others to make decisions on our behalf. However, nobody knows what the future holds. If you are injured in an accident, for example, you may immediately and unexpectedly lose the capacity to make your own decisions, either temporarily or permanently. The potential consequences of not having effective LPAs in place can be severe, so the best time to set up lasting powers of attorney is now.
How To Set Up Power Of Attorney
You set up a power of attorney by completing a form online or requesting the documentation from the Office of the Public Guardian.
An LPA is a long, complex document that requires careful consideration. In it, you state the arrangements you would like to implement in the event you lose the capacity to make your own decisions and nominate your attorneys.
The document must be signed by you, your attorneys, and several witnesses, in a specific order. Once you have completed the documents, your LPA must be registered with the Office of the Public Guardian.
Do I Need A Solicitor To Set Up A Power Of Attorney?
You can set up an LPA yourself or ask a solicitor to help you. Most people seek legal advice when setting up LPAs to ensure the arrangements effectively protect their own interests and those of their loved ones. Furthermore, any mistakes in your paperwork can mean it is rejected, and you’ll need to do it again.
Expert wills and probate solicitors like ours can not only prepare and register the LPAs on your behalf but can also provide important advice on crucial decisions, such as the following:
- Who you should appoint as your attorneys. Generally speaking, anyone over the age of 18 can act as your attorney, but you should ensure they are willing and able to take on the role. An LPA gives attorneys considerable power over your financial affairs and wellbeing, so choosing the right people is essential.
- How many attorneys you should appoint.
- When the attorneys’ powers should take effect.
- Whether your attorneys should have complete control over your decisions or if you’d prefer to provide specific instructions about certain decisions or a list of factors your attorneys should consider.
Our wills and probate solicitors will ensure you understand the effects of your LPAs and are entirely happy with them. We can also assist you with wider future planning issues, such as updating your Will and providing inheritance tax advice.
Reach out to Birch & Co’s specialist and supportive team today. Call us on 0191 284 5030 or complete a Free Online Enquiry now to get a bespoke fixed price estimate.
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