The importance of having a Lasting Power of Attorney (LPA) in place is becoming more recognised in enabling a person’s loved ones to deal with their affairs.
At Grey-Smith Legal we understand the importance of an LPA, and we are therefore happy to give our clients a free initial consultation to explain what they are, how they can be used and the circumstances in which they may need one.
Most people have a belief that there is a greater need for an LPA when you are elderly, but in life anything can happen and therefore everyone should at least have the knowledge of what an LPA is, and how they can be used.
Different Types of Lasting Power of Attorney
There are usually two main reasons why you would need a Lasting Power of Attorney. We have broken these down for you below.
Lasting Power of Attorney for Property & Financial Affairs
This Lasting Power of Attorney is used to give an attorney or attorneys of your choice the power to make decisions about your property and money on your behalf, including:
- selling or mortgaging your home
- paying your bills
- managing your bank accounts
- collecting your benefits or pension on your behalf
You can choose to allow your attorney to use the Lasting Power of Attorney as soon as it is registered or you can choose to only allow them to use it once you have lost mental capacity.
Lasting Power of Attorney for Health & Welfare
This Lasting Power of Attorney is used to give an attorney the power to make decisions regarding your health and welfare, such as:
- life sustaining treatment
- medical care
- your daily routine
- moving into a care home
This Lasting Power of Attorney for Health and Welfare can only be used by your attorney when you no longer have mental capacity.