Types of LPAs available
Having an LPA can provide you with peace of mind that your affairs will be handled by a person of your choosing, should you lose mental capacity. It’s important to know the different kinds of LPAs you can have and what powers each of them gives your attorney.
In England & Wales, there are two types of LPAs available:
● The Property & Financial Affairs LPA● The Health & Welfare LPA
What is a financial LPA?
An LPA for financial decisions can cover things like buying and selling property, paying bills, and investing money. The property and financial affairs LPA can be used as soon as it’s registered, with the donor’s permission.
Why would I need a health & welfare LPA?
LPAs for health and welfare covers things like where you should live or your day-to-day routine such as your diet. This type of LPA also allows you to make clear whether you would want to refuse or consent to medical treatments. Should you lose mental capacity (either temporarily or permanently), having a health and welfare LPA can ensure decisions about your life are in line with your wishes.
How do I set up an LPA?
For LPAs to be valid in England, the document must be signed by:
● The donor● The attorney(s)● The witnesses● A certificate provider (e.g. a solicitor)
It is imperative the above is adhered to or the validity of the document can be questioned. Having a professional Lasting Power of Attorney solicitor by your side can give you the comfort in knowing all legal requirements have been followed.