Reasons To Have A Lasting Power of Attorney
A lasting power of attorney (LPA) appoints an individual to be the legal representative of someone else if the initial person becomes incapacitated due to injury or illness. If they can’t communicate their own wishes then they will need the LPA to ensure that things happen as they want them to.
The attorney can make decisions on behalf of that person which affects them directly. This includes their financial arrangements, healthcare, where they live, and what to do with their property amongst other things.
If you are thinking of having an LPA put in place, here are some reasons that might persuade you it’s a good idea.
To begin with, having an LPA means that you are in control. You get to name the person you want to act as your attorney. If you don’t have an LPA and you are incapacitated you would have no say as to whom was able to make decisions on your behalf and the court of protection could award the job to anyone they think is appropriate. That might not be the person who has your best interests at heart.
Next, as the name suggests, an LPA is lasting. This means that it won’t be revoked and can be used when mental capacity is at its worst. This document is different from when you make a will.
It can also be used in two different ways. It could be used so that someone helps you with your finances even if you are still able to do so yourself. There are two different forms of Lasting Power of Attorney: personal welfare and property and affairs. You can have both or one or the other.
An LPA only comes into effect when it is registered (or triggered). When this trigger happens can be down to you; this includes being triggered when you are mentally capable but need some help with financial matters, for example. Along with this you can put any limitations in place that means you can grant more or fewer powers as you see fit. You can even name multiple attorneys if you think that is best. They can make decisions together or separately.
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