A Lasting Power of Attorney (LPA) protects you and your loved ones if you ever lose the capacity to look after your affairs, giving someone you trust powers to act on your behalf. This can ensure that you are properly looked after if you require ongoing medical care and that your finances are properly managed in your absence.
What is an LPA?
An LPA is a legal document that provides details of a person (or people) who you have chosen to act as 'attorney' and manage your personal affairs if you are unable. The powers that they have are subject to the type of LPA you choose and the authority you give them. This could include the likes of paying bills, managing any investments or businesses you might have, and even deciding on aspects of your care. You can include instructions and boundaries in your LPA to help your attorney make the right decisions.
Types of LPA
There are two types of LPA covering Property & Financial Affairs and Health & Welfare. The team at My Will Expert can guide you through these types, as well as the process of creating an LPA, ensuring that your document is correctly registered with the Office of Public Guardian to give you and your family peace of mind should the worst happen.
Property & Financial Affairs LPA
A Property & Financial Affairs LPA aims to protect your assets under circumstances where you are unable to manage your affairs yourself due to incapacity. You can choose an attorney to look after various aspects of your finances for you and set boundaries regarding how much control they can take.
Health & Welfare LPA
A Health & Welfare LPA gives you control over the care you would receive should you be unable to make decisions for yourself, by letting you choose an attorney to make decisions regarding your health and welfare on your behalf.