Lasting Power of Attorney
One of the most important changes that happened in the United Kingdom with the Mental Capacity Act, which became effective as of October 2007 was the provision of a Lasting Power of Attorney. The LPA, as it is commonly known, has replaced an older system which used to be followed in the UK called the Enduring Powers of Attorney (EPA) as it was open to abuse.
Regardless of how many stories about LPA's have been in the media in the last few years, some people are still not properly familiar with what a Lasting Power of Attorney is and how it works. As we move on, let us cover some of the major aspects attached to a Lasting Power of Attorney starting with what it really is.
What is a Lasting Power Of Attorney?
A Lasting Power of Attorney is basically a legal document which is designed to help a donor (the person getting an LPA) to appoint one or more attorneys to make decisions on their behalf. This is usually put in place for when you have lost the mental capacity to take financial decisions such as decisions related to your property. Another situation may be that you are no longer capable of deciding about your health treatment. An LPA is usually considered when people think that at some point in life, they may not be able to make decisions for themselves. There are two main types of an LPA.
Types of Lasting Power of Attorney:
v Lasting Power of Attorney for Health and Care:
In an LPA for Health and Care, decisions like where you should live, what should you eat, your medical care and wellness and your social activities can be included? Basically, the attorney will have all the rights over any decisions that can affect your health and condition with an LPA for Health and Care.
Lasting Power of Attorney for Financial Decisions:
In an LPA for Financial Decisions, the usual decisions which an attorney can make might include the buying and selling of property, paying bills, investing money and maintenance of property etc. They can also have access to the donors bank account and any savings accounts.
When Is a Lasting Power of Attorney Valid and How to make it?
A Lasting Power of Attorney is only valid in two basic circumstances. One, the person holds the mental capacity to get an LPA and the other is that the person is getting an LPA without any external pressure. This decision solely depends on the donor as they are willing to trust someone with some of the major decisions of their life.
If you feel an LPA is right for you, you should approach a company like The Will Associates and they will be able to help you in getting an LPA. They will advise you in choosing the right LPA for your needs, they will make sure that the paperwork is completed within the very strict guidelines and more importantly, that your LPA will qualify meaning that you will only have to pay the registration fee once.
The bottom line is that a Lasting Power of Attorney is one of the most suitable options for people who are at risk of losing mental capacity due to some reasons such as illness.
If you require any further information regarding Lasting Power of Attorney you can contact The Will Associates today by calling on 0800 9500 700 and a arrange a free, no obligation consultation in the comfort of your own home, at a time convenient to you and your family.