Wills & Power Of Attorney
Power Of Attorney
A Lasting Power of Attorney (LPA) is a crucial part of later life planning, alongside a Will. It provides protection by coming into effect if you lose the capacity to make decisions for yourself due to conditions like a stroke or dementia.
LPAs are divided into two key categories:
- Personal Welfare: This allows your appointed attorneys to make decisions about your care, including who provides it, where it’s delivered, and, if necessary, decisions on life-sustaining treatment.
- Personal Finance: This enables your attorneys to manage your finances, pay your bills, handle investments, and manage your property on your behalf.
Both categories ensure that your affairs are handled according to your wishes, even if you’re unable to express them yourself.
FAQs
Do I need both types of LPA?Do I need both types of LPA?
It depends on your situation. A Property and Financial Affairs LPA can manage your financial matters, while a Health and Welfare LPA ensures decisions about your care and wellbeing are made according to your wishes. Many people choose to have both for complete coverage.
What happens if I don’t have an LPA?
If you lose capacity without an LPA in place, a court may appoint a deputy to make decisions on your behalf. This process can be lengthy, costly, and may not reflect your wishes.
Can I change or revoke my LPA?
Yes, as long as you have mental capacity, you can change or revoke your LPA at any time.
How do I set up an LPA?
You’ll need to fill out the relevant forms, which can be done online or via a solicitor. Once completed, the LPA must be registered with the Office of the Public Guardian (OPG) before it can be used.
Is there a cost to register an LPA?
Yes, there is a registration fee payable to the Office of the Public Guardian. In some cases, you may be eligible for a fee reduction or exemption based on your financial situation.)