Have a cunning plan!
What is a Lasting Power of
Attorney? These documents
are commonly called an LPA
and there are two types;
A Property and Finances LPA by
which your attorney/attorneys
deals with your property and
money. It is possible for this
document to be used by your
attorney/attorneys while you are
still mentally fit;
A Health and Welfare LPA by
which your attorney/attorneys
deals with decisions about
your medical treatment, health
issues and social welfare. Your
attorney/attorneys may only use
this document if you have lost
mental capacity.
You may tend to associate Lasting
Powers of Attorney with older people
when they are unable to manage things
for themselves and need help in running
their home, dealing with money and day
to day matters. This is one of the main
benefits. Some people don’t want to
make these documents until they have
no alternative. At this point they may be
seeking to appoint attorneys when their
physical or mental health, or sometimes
both, is declining and they are already in
a vulnerable position.
But there is no need to wait until you
yourself are in that unthinkable situation.
You can take control now and put LPAs
in place so that your trusted attorneys
are able to act should that unfortunate
time arise. Your attorney /attorneys will
be able to help if you need assistance
in managing your money, paying bills
and dealing with today’s ever increasing
bureaucracy, or if decisions need to
be made about how you continue to
look after yourself at home, or what
procedures and treatment the medical
profession can give you.
Do you need to take legal advice on
making these documents? Just as you
could draw up your own Will you could
also draw up your own LPAs. However,
do not underestimate the apparent
simplicity of completing the LPA forms
which bears no relation to the potential
far reaching effect and consequences
of these documents. Most people take
legal advice when making a Will because
they want their property and affairs to
be sorted out properly after they have
gone and to ensure things are passed
on to their chosen recipient(s). There are
technical rules which must be observed
in order to create a valid Will whereas
completing the LPA forms may seem
fairly straightforward and something that
you or a relative can do for you. However,
you could be giving your attorney or
attorneys very wide powers and control
over your affairs during your lifetime
and you could be enabling them to deal
with very important matters when you
are in a vulnerable state. Thus LPAs can
be extremely powerful documents and
it would be wise to seek advice of the
implications of making them, who will
keep them until they are needed, and
when the attorneys can use them
Come and see us about putting LPAs
in place; we can discuss with you the
implications of what you are allowing
your attorneys to do under the LPAs; we
make sure the LPAs are correctly set up
and registered; we can store the original
documents until they are needed some
time in the future; and we can provide
certified copies of the documents as
required.
B
y Mei Evans
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