Lasting power of attorney
Understanding the Two Types of Lasting Power of Attorney
A Lasting Power of Attorney (LPA) is a vital legal document that allows you to plan ahead by appointing one or more trusted individuals, known as attorneys, to make decisions on your behalf should you lose the capacity to do so. There are two distinct types of LPAs, each designed to address different aspects of your future care and affairs:
Property and Financial Affairs LPA
This LPA gives your appointed attorney the authority to manage your property and financial matters. Whether you choose to delegate decision-making immediately or only in the event that you lose mental capacity, this document ensures that your financial affairs, such as managing bank accounts, paying bills, or handling property transactions, are administered according to your wishes.
Health and Welfare LPA
This LPA empowers your chosen attorney to make decisions regarding your personal care and medical treatment if you are unable to make these decisions for yourself. It covers critical decisions, including those about giving or refusing life-sustaining treatment, in accordance with your religious beliefs, ensuring that your preferences for health and welfare are observed even when you are not in a position to communicate them.
It is imperative to establish your LPA while you still have the mental capacity to fully comprehend the scope and implications of these legal powers. By taking effective action now, you secure control over future decisions and ensure that trusted individuals can act on your behalf in alignment with your personal wishes and best interests.
Consequences of Not Establishing an LPA
Without an LPA in place, should you lose mental capacity, there is no predetermined framework to ensure that your decisions are handled according to your wishes. In such circumstances, it could become necessary for a relative, friend, social services, or a professional to apply to the Court of Protection. The court then has the authority to appoint an individual to make decisions on your behalf.
This process carries significant risks. You might end up with a decision-maker whom you neither chose nor trust. In some cases, an applicant may be someone unfamiliar to you and not even a family member. Furthermore, obtaining a court order can be a lengthy and costly process, often taking months to resolve, which may add undue stress to your loved ones during an already challenging period.
Considering the potential challenges and complications, it is prudent to proactively establish an LPA or EPA while you have the capacity. This ensures that the person(s) you trust can legally act on your behalf, safeguarding your interests and reducing uncertainty for your family.
Would you like more information on how to tailor your LPA to your specific needs or explore the steps involved in setting up these essential legal protections?
