In life, it’s often instinctive to plan for the expected and nothing more. However, it’s equally important to prepare for the unexpected where you can.
One crucial aspect of this is setting up a Lasting Power of Attorney (LPA). A power of attorney is a way of giving someone you trust the legal authority to make decisions on your behalf if you can’t make them for yourself.
At George Ide LLP, we understand that navigating the complexities of LPAs can be daunting. That’s why we’ve put together this comprehensive guide to help you understand everything you need to know about LPAs.
What is a Lasting Power of Attorney?
A Lasting Power of Attorney is a legal document that allows you (the ‘donor’) to appoint one or more people (your ‘attorneys’) to make decisions on your behalf. This becomes particularly important if you lose the mental capacity to make your own decisions in the future.
There are two types of LPA:
- Property and Financial Affairs LPA: This allows your attorney to make decisions about your money and property, such as managing your bank accounts, paying bills, or selling your home.
- Health and Care LPA: This allows your attorney to make decisions about your health and personal welfare, such as your medical care, where you live, or your day-to-day care.
Why is an LPA Important?
Many people assume that their spouse or close family members will automatically be able to make decisions for them if they lose capacity. However, this isn’t the case. Without an LPA, your loved ones may face lengthy and costly legal proceedings to gain the authority to act on your behalf.
An LPA provides peace of mind, ensuring that someone you trust can make decisions in your best interests if you’re unable to do so yourself. It’s not just for the elderly – anyone over 18 can and should consider setting up an LPA.
Key Considerations When Making an LPA
- Choose your attorneys wisely: They should be trustworthy, competent, and willing to take on the responsibilities of an LPA.
- Consider replacement attorneys: This ensures someone can step in if your original attorney can no longer act for you.
- Decide on attorney powers: You can give your attorneys general authority or include specific instructions or preferences.
- Think about when the LPA can be used: A Property and Financial Affairs LPA can be used immediately if you wish, while a Health and Welfare LPA can only be used if you lose mental capacity.
- Seek professional advice: While not mandatory, getting legal advice can ensure your LPA is set up correctly and reflects your wishes accurately.
Common Misconceptions About LPAs
“I’m too young to need an LPA”
Accidents or illnesses can happen at any age. It’s never too early to plan ahead.
“My family will automatically be able to make decisions for me”
Without an LPA, even close family members won’t immediately have the legal authority to make decisions on your behalf.
“Once I’ve made an LPA, I can’t change my mind”
You can cancel or change your LPA at any time, as long as you still have mental capacity.
“My attorneys can do whatever they want”
Attorneys must always act in your best interests and can be held accountable if they don’t.
“I can set up an LPA myself”
Professional attorneys provide invaluable guidance which can help you navigate complexities.
How George Ide LLP Can Help
At George Ide LLP, we understand that setting up an LPA can seem overwhelming. Our experienced team can guide you through the process, ensuring your LPA is tailored to your specific needs and circumstances.
We can help you:
- Understand the different types of LPA and which is right for you
- Choose appropriate attorneys and replacement attorneys
- Draft clear and legally sound instructions and preferences
- Ensure all forms are completed correctly and witnessed appropriately
- Register your LPA with the Office of the Public Guardian
By setting up an LPA, you’re taking a proactive step towards ensuring your wishes are respected, even if you’re unable to express them yourself.
Setting up an LPA on your own is a risky move, leaving you with potential legal issues to face down the line. Our professional guidance and expertise will ensure that any risks are minimised, giving you complete peace of mind.
Don’t leave your future to chance. Contact George Ide LLP today to discuss how we can help you set up your Lasting Power of Attorney. Our professional, tailored service ensures that your best interests are always at the heart of everything we do.
In issues relating to LPAs as well as probate, deputyship, investments and administration of trusts we have many years of relevant experience and have accumulated substantial knowledge to ensure that your case is handled in the most beneficial, sensitive and efficient manner possible.
Contact Our Friendly Legal Experts Today
For general enquiries or to discuss more specific needs in personal or commercial law please get in touch with a friendly member of our team today.
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Author: Paul Lewis
Last updated: 21st November, 2024
