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Lasting Power of Attorney

An LPA may be established for many reasons, for example, it may be to look after specific aspects of your financial affairs or to make decisions about your health and welfare should you lose the capacity to do so.

There are two types of LPA, one for property and financial affairs and one for health and welfare. You can make one or both. LPAs replaced the previous system of enduring powers of attorney, however, enduring powers of attorney created before October 2007 are still valid.

The key difference between the 2 types of LPA is that a property and financial affairs LPA can be used while someone still has capacity, for example while they are on holiday or living abroad, whereas a health and welfare LPA can only be used when mental capacity has been lost.

Usually no more than 2 or 3 primary attorneys are appointed; they may be family members, friends or professionals known to you. Attorneys must be over 18, have mental capacity to make decisions, not be bankrupt nor be subject to a debt relief order. Replacement attorneys may also be appointed in case any of the primary attorneys cannot

According to the Alzheimer’s Society, by 2025 more than 1 million people in the UK will have dementia. Therefore, it is prudent to plan ahead. Furthermore, it is not just a consideration for the elderly; younger people may also become incapacitated through accident or illness.

LPAs are designed to be recognised by financial institutions, care homes and local authorities, tax, benefits and pension authorities thereby making the handling of financial and welfare affairs much easier for relatives when it is needed.

It must be remembered that an LPA is a serious, powerful legal document and it can be complicated to draft it correctly. It is possible for you to draft your own LPA without a solicitor but apart from complexity OPG may object to certain restrictions contained in the LPA and may even render the LPA invalid due to technical mistakes made filling in the forms.

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