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.
You can create two types of LPA:
* Property and Affairs LPA
* Personal Welfare LPA