Lasting Powers of Attorney (LPA's)
- We never know what is going to happen in the future and any one of us could have an accident, illness, injury or simply become too old or frail to deal with our own affairs.
- This can cause many problems for our family and friends, because they may need to make financial or care decisions on our behalf, and they would not have authority to do so.
- To avoid these problems you can take out a (Property and Affairs) Lasting Power of Attorney appointing people of your choice (your attorneys) to deal with your financial affairs on your behalf, or a (Health and Welfare) Lasting Power of Attorney appointing attorneys to deal with your health and care issues on your behalf.
- Whilst an LPA is a very powerful document, there are numerous safeguards to prevent its abuse.
- You can include restrictions on what the people you appoint can and cannot do under the authority of the LPA and you can include advice or guidance on how you would like them to act.
- An LPA cannot be used until it has been registered with The Office of the Public Guardian (OPG) - and either you choose whether to register it yourself, or the people you have appointed can register it - but when they do, you are notified.
- You can choose to have independent persons notified when there is an application to register the document. This ensures that nobody can use the LPA to take money out of your bank account or manage your financial affairs without you, or the persons you have asked to be notified, knowing about it.
- When the LPA is signed, a certificate must be completed by a qualified person to confirm that the individual making the document understands the meaning of the LPA and the consequences of it.
- An LPA can be updated or cancelled at any time should your circumstances change.
- A n LPA is a bit like an insurance policy - hopefully you will never need it, but if unforeseen circumstances arise and you cannot manage your own financial affairs, you have the peace of mind of knowing that your affairs will be taken care of by someone you have chosen, and someone you can trust.
- It is much cheaper to take out an LPA now as a safeguard, than to wait until the need arises and have to apply through the courts.
- Without an LPA anyone can apply to the courts to take over your affairs and it would be up to the courts to decide. This may result in the appointment of a person or persons that you would not have chosen yourself.
- It is imperative that you take out an LPA as soon as possible because if you have an accident or illness that affects your mental capacity - it will be too late !
- We can advise you and prepare LPA's to your exact requirements.
