Managing your affairs
Lasting Power of Attorney
You are able to look after your own affairs every day, and you probably take this for granted. Have you thought what would happen if you couldn’t?
In 2005, the Mental Capacity Act made it possible to appoint a person of your own choosing to administer your affairs in the event of physical and/or mental incapacity.
People can become unable to manage their affairs at any stage of life. This can be because of an accident, physical illness, or the onset of a mental illness, making everyday tasks of paying bills and making financial decisions difficult and stressful.
Lasting Power of Attorney (LPA) in England and Wales
A Lasting Power of Attorney is a legal document that lets you appoint someone you trust as an ‘attorney’ to make decisions on your behalf.
It can be drawn up at any time while you have capacity, but it will have no legal standing until it is registered with the Office of the Public Guardian.
A registered LPA can be used at any time, whether you have the mental ability to act for yourself or not.
Property and Affairs LPA
A Property and Affairs LPA allow you to choose someone to make decisions about how to spend your money and the way your property and affairs are managed.
Personal Welfare LPA
A Personal Welfare LPA allows you to choose someone to make decisions about your healthcare and welfare. This includes decisions to refuse or consent to treatment on your behalf and deciding where you live. These decisions can only be taken on your behalf when the LPA is registered and you lack the capacity to make the decisions yourself.
How many people should you appoint and who?
You may not be able to check up on the attorney yourself if you become incapable, so it may be a good idea to appoint more than one person to help prevent abuse of the responsibility. Choose people you can trust to act in your best interests. You should consider how well they look after their own financial affairs and whether you can trust them to use your money to meet your needs.
Due to the complexity of the LPA and the complexity of your property and financial affairs seek advice from the experts at Keith Park Solicitors
