Should I Have An LPA In Place

What is Lasting Power of Attorney?
If you are to become mentally incapacitated, a Lasting (or Enduring) Power of Attorney allows someone you trust/rely on to make decisions on your behalf. These decisions can be with regards to anything from healthcare to finances and by having this in place, you have peace of mind that your affairs will always be looked after.

You can decide upon more than one person for this, but whoever you choose is referred to is an attorney. However if you do have more than person appointed as an attorney, then it is imperative you decide how they will work- will they make decisions about everything together or will they act separately. More often than not the attorneys act separately and deal with different issues, then work together to make more impactful decisions.

Lasting Powers of Attorney (LPA) come in two quite types. The first is LPA (property and affairs) which relates to your finances and connected affairs, and the other is LPA (Personal Welfare) which welfare issues, such as health and living conditions, fall under.

What Does This Mean In Practice?
It means that if/when a time comes that you are unable to make a sound decision for yourself; there is a trusted person already in place to do this for you. This safeguards you to some degree against any foul play in relation to your health or assets.

How Do I Go About Obtaining an LPA?
Most importantly you must be mentally capable when requesting a lasting power of attorney, and it also needs to be signed by your attorney and yourself, in the presence of a witness. As a further measure someone else must also bear witness to the fact you are mentally capacitated and understand the implications of the LPA and have not been forced into taking this action.

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Published by: Rachel Jones on February 28th, 2010 | Filed under Legal



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