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SOMETHING TO CONSIDER WHEN MAKING A WILL

30/11/2015 by Administrator

A Lasting Power Of Attorney (LPA) allows to appoint one or more persons as your ‘attorney’.  They will have authority to act on your behalf where you have lost mental capacity, and/or are unable to make decisions at the time they need to be made.  There are 2 types of LPA:

Health and Welfare:

This gives your attorney(s) authority to make decisions about things like:

  • your daily routine, e.g. washing, dressing, eating
  • medical care
  • moving into a care home
  • to give or withhold life-sustaining treatment

It can only be used when you’re unable to make your own decisions.

Property and financial affairs:

This gives your attorney(s) the power to make decisions about your money and property, for example:

  • managing a bank or building society account
  • paying bills
  • collecting benefits or a pension
  • selling your home

Mental capacity does not have to have been lost here, and the LPA is useable by your attorneys post registration with your permission.

Filed Under: Wealth Management

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