Setting Up Lasting Power of Attorney
Setting up Lasting Power of Attorney (LPA) is a process that can be completed at a relatively low cost and the benefits of making one are huge. In case you lose the mental capacity to make your own decisions, your attorney will be able to do it for you. Appointing the attorney or attorneys to be in charge if something should happen to you can save you and your family a lot of time and money, not to mention it will prevent additional stress caused by long and costly court processes. For a Lasting Power of Attorney contact The Will Associates.
You can set up two types of LPA. The first type is Property & Financial affairs LPA that covers the decisions about your money, investments, and property. The second type is the Health & Welfare LPA that covers your everyday life and health care. This includes the decisions where you will live, what you will wear, what you will eat, the decisions about the medical treatments to be used and similar. This type of LPA can only be used after the person has lost the mental capacity to make these decisions.
You can set up either one type of the LPA or you can choose to set up both. You also need to specify exactly what decisions your attorney(s) can make on your behalf. You can appoint one person as your attorney or you can choose more persons. Then you can specify if they are to make decisions together or they can decide separately and on what matters. In order to be able to make an LPA you need to be at least 18 years old and you have to be able to make decisions. The person(s) you’re appointing as your attorney(s) also need to fulfill these conditions.
An attorney can be a family member, a friend, or a professional. Either way, you need to make your choice carefully because the decisions they will be making can seriously affect the quality of your life. You should choose someone competently enough and willing enough and someone you can trust to act in your best interest. After making the LPA, you will need to get it registered with the Office of the Public Guardian. After this, you’re all set up.
For any further information contact The Will Associates today by calling us on 0800 9500 700 to arrange a free, no obligation consultation at a time convenient to you and your loved ones, in the comfort of your own home.