Lasting Powers of Attorney: Not just for the elderly
Many people have heard of Lasting Powers of Attorney (LPA), however not everyone understands exactly what they are and when they should be put in place. A common misconception is that only elderly people need an LPA.
What exactly is an LPA?
A Lasting Power of Attorney (LPA) is a legal document that enables you to appoint one or more people to act as your attorneys and make decisions on your behalf.
There are two types of LPA available.
- Property and Financial Affairs Lasting Power of Attorney
The first is Property and Financial Affairs. This LPA allows your attorneys to make decisions on your behalf if they have lost capacity or, depending on how they have been appointed, whilst you still have capacity and provide them with your consent. - Health and Welfare Lasting Power of Attorney
The second LPA available is Health and Welfare. Attorneys will be able to make decisions on your behalf in relation to decisions regarding medical treatment and potentially life sustaining treatment. Decisions around where you live and the care you receive are also covered under this LPA.
There must be at least one attorney, and all attorneys must be above the age of 18.
It is worth noting that you can place instructions and preferences in your Lasting Power of Attorney if there is anything you wish to specify regarding investments, diet preferences (such as having vegetarian/vegan food), and also decisions on life-sustaining treatment, dependent on future prospects of life, etc.
Why should you consider a Lasting Power of Attorney now?
Many assume that LPAs are for the elderly, that they should have them in place before dementia or the effects of old age set in. In reality, anyone can lose their mental capacity at any time. This can be for a temporary period or a longer term.
Of course, this is a sad and difficult thing to consider. But acting now could save a huge amount of stress for your loved ones in the future. For example, you could be 35 years old and living with your partner when you are involved in a car accident. You have lost capacity but are still required to pay half of the mortgage. You usually pay your half to your partner, and she pays the lender direct. If no direct debit is set up, and there is no LPA in place, your partner may be unable to pay the mortgage or remaining bills.
If, in this scenario, an LPA for Property and Financial affairs was in place, then the chosen attorney would be able to send to your partner the half share of the mortgage. Once you have recovered and regained capacity your attorneys can no longer make decisions, and things will revert back to normal.
It is difficult to predict the future, so having your Lasting Powers of Attorney in place will give you peace of mind and alleviate some of the stress on your family during a difficult time.
Who should I choose as my attorney?
It can be difficult for some people to decide on who they wish to be their attorney or attorneys. They can be a friend, family member, partner, spouse or even a related professional e.g. solicitor.
Importantly, they need to be people whom you trust completely to act in your best interests and to follow your wishes.
What happens if you lose capacity without an LPA?
You can only make a Lasting Power of Attorney when you have full mental capacity. This is why it is so important to have them in place early and not wait until disaster strikes.
If there is no LPA in place, then one of your family members would have to apply to the Court of Protection for a Deputyship Order to manage your finances and make decisions regarding your health. It is worth noting that anyone may apply for a Deputyship, whereas an attorney detailed within an LPA is selected only by you.
Making Deputyship applications can be very complex and expensive. The average time for obtaining a Deputyship Order is four to six months. During this time, no one will be able to access your accounts to make payments or make decisions on care arrangements and fees.
Why instruct GA Solicitors for your Lasting Powers of Attorney?
Instructing a professional will give you peace of mind that your application has been undertaken correctly. At GA Solicitors in Plymouth, we will provide you with comprehensive legal advice regarding the appointment of your attorneys and the decisions they can make.
Should you wish, you can also instruct us as professionals to act as your attorney regarding property and financial affairs. This will give you absolute peace of mind that your duties will be carried out as you wish.
As part of the process, we can also act as a certificate provider to confirm LPAs are being made by the donor’s own choice. Each LPA needs a certificate provider to sign that they are confident that the donor understands what they are requesting is put in place.
GA Solicitors in Plymouth has been established for more than 200 years and our specialist wills, trusts and probate team has extensive experience in registering Lasting Powers of Attorneys with the Office of Public Guardian. We also store the registered LPAs safely for no extra cost, allowing the original documents to be easily located if needed. We can also provide certified copies to clients for their ease when they require them.
If you would like to speak to a member of the team about LPAs, wills, probate or tax advice, call today on 01752 203500. You can also email us via enquiries@GAsolicitors.com.
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