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Lasting Power of Attorney
- A Lasting Power of Attorney (LPA) makes it possible to appoint a nominee or a set of nominees, to make decisions pertaining to the person’s finances, property, or welfare.
- There are basically two types of LPAs, Health, and Welfare LPA and Property and Financial Affairs LPA. As the nomenclature suggests, the former is to assign nominees to take decisions on matters related to medical treatment and related affairs, and the latter is to assign nominees to make financial and property related decisions, such as paying bills, making a sale, and other activities.
- An LPA ensures there is someone capable and responsible for taking decisions on a person’s behalf, when they are no longer capable of doing so, for any reason, or if they simply no longer wish to be involved in making decisions. An LPA becomes especially useful in situations such as the person foregoing mental capacity following an accident, injury or disorder, or when the person turns senile due to old age.
- It is important to prepare the LPA correctly, to derive full benefits. A good LPA not just nominates people entrusted with the task of making decisions, but also lists out specific decisions to be made.
- It could also detail how the decisions are to be made. These steps are critical to ensuring the person making out the LPA retains control on how decisions are being made on his or her behalf, rather than blindly trust the judgement of the attorney empowered with the task of making decisions.
- The attorney is also bound by the Code of Practise of the Mental Capacity Act 2005 to act in the best interests of the person making out the nomination.
- LPA’s, to be valid, has to be registered with the Office of the Public Guardian, with the signatures of both the person making the nomination and the nominee being witnessed.
- An LPA is a safe way to ensure one’s financial affairs, health, and overall wellbeing will be looked after, in all circumstances and eventualities. For best results, approach competent and experienced attorneys.
- We have a team of competent and seasoned professionals, with considerable experience, and undertake the task in a professional manner, after ascertaining your specific needs and circumstances.