Lasting Powers Of Attorney

Most people think that lasting powers of attorney are only required if some one elderly has lost mental capacity.

Loss of capacity can happen to any one at any time, at any age eg due to health issues or accidents involved whilst travelling or playing extreme sports etc.

None of us want to believe that we might find ourselves in this type of situation but it is important to consider how our families would manage or how our business would continue in these circumstance.

It is important to set up an LPA while you still have mental capacity.

If you lose capacity and don’t have a registered LPA your relatives will be required to apply to the court. This can be a very costly and lengthy delay causing additional distress for your family.

There are two types of LPA: ‘Property and Financial Affairs’ and ‘Health and Welfare’.

1. Property and Financial Affairs

By establishing Lasting Powers of Attorney (LPA) for Property & Financial affairs and our Health & Welfare it gives someone you trust the legal authority to make decisions on your behalf should you lose the mental capacity to do so. This may include paying bills, writing out cheques, transferring money from and into different accounts, arranging for the maintenance of your property and selling your property if you wish. It can also be used to nominate someone to manage your business if required.

2. Health and Welfare Lasting Power of Attorney

A Health and Welfare LPA allows you to appoint one or more persons to make decisions regarding your medical care, moving into a care home, your daily routine (for example, eating and what to wear) and refusing life-sustaining treatment. Unlike the Property and Financial Affairs LPA it can only be used once you have lost the ability to make your own decisions.