Lasting Power of Attorney (LPA) is a legal document that allows an individual (known as the donor) to appoint one or more people (known as attorneys) to make decisions on their behalf in the event that they become mentally or physically incapable of making decisions for themselves. The LPA ensures that the donor's affairs are managed by someone they trust and according to their wishes.
There are two types of LPAs:
- Property and Financial Affairs LPA: This type of LPA grants the attorney(s) the authority to make decisions regarding the donor's financial matters, such as managing bank accounts, paying bills, buying or selling property, and making investments.
- Health and Welfare LPA: This type of LPA grants the attorney(s) the authority to make decisions regarding the donor's personal welfare and healthcare, including medical treatment, living arrangements, and decisions about daily care.
To create an LPA, the donor must be at least 18 years old and have the mental capacity to understand the implications of granting such powers. The donor must choose one or more attorneys who are willing to act in their best interests and make decisions accordingly.
The LPA must be registered with the Office of the Public Guardian (OPG) before it can be used. Registration ensures that the LPA is valid and provides protection against potential abuse or misuse of the powers granted.
Feel free to contact us if you require specific advice on LPAs.