Unfortunately, Covid-19 has had a devastating effect on many families, with the sudden loss of loved ones. Against this backdrop and coupled with the extra free time that lockdown has afforded people to focus on getting their financial affairs in order, we wanted to give our website visitors some information about a tool for helping to navigate the unfamiliar, and often scary world of financial management.
This week, we caught up with an expert, Malcolm Roberts, owner of LPA Now, to run through some of the basic information about Lasting Power of Attorney (LPA) to help people better understand what LPA means and more importantly, how it operates. Below, Malcolm explains some of the key issues for everybody considering setting up an LPA.
What is a Lasting Power of Attorney (LPA)
A lasting power of attorney (LPA) is a legal document that lets you (the ‘donor’) appoint one or more people (known as ‘attorneys’) to help you make decisions or to make decisions on your behalf. This gives you more control over what happens to you if you have an accident or an illness and cannot make your own decisions (you ‘lack mental capacity’).
There are 2 types of LPA:
You can choose to make one type or both.
Health and welfare LPA: Use this LPA to give an attorney the power to make decisions about things like:
It can only be used when you’re unable to make your own decisions.
Property and financial affairs LPA: Use this LPA to give an attorney the power to make decisions about money and property for you, for example:
It can be used as soon as it’s registered, with your permission.
Lasting Power of Attorney Guidance: Why LPA Now?
You might consider writing your own LPA, but it’s important to know that there’s a lot to think about to make sure the personal information you include is technically correct. It’s important that you don’t miss anything out, and that your application isn’t rejected.
This is where LPA Now can help - they are leading experts in the guidance, advice and creation of Lasting Powers of Attorney, They will carefully guide you through the process and explain the technicalities to you, to ensure you don’t just get your LPA right, but that it’s right for you.
Creating your LPA involves making some crucial decisions about your future. It’s quite possible that those decisions may not be called upon for many years. The thought of losing the mental capacity to manage your affairs is not pleasant. But it’s important that these matters are talked through and weighed up carefully, before your capacity to make a decision becomes impaired.
It’s important to help prepare you and your family members in the best possible way for potentially transferring the power to make decisions on your behalf. Giving your attorneys the power to manage your health and care as well as your property and financial affairs shouldn’t be dispensed with as a simple box-ticking exercise at the last possible moment.
An LPA Now consultant can make the difference between you creating an LPA that’s right for you and your family, or quickly clicking through an online form without really thinking about the decisions that matter. Their knowledge and expertise, alongside their experience of how people make their life choices, will help ensure your LPA provides the protection you need.
For home visits, over the phone specialist advice and expert document checking services, you can contact LPA Now on:
LPA Now and their owner, Malcolm, are trusted partners of Social Responsibility. Already embedded in the communities where they operate, they are committed to raising awareness of the small, local charities hard at work in those communities. Malcolm is also keen on helping us at Social Responsibility to develop strong, healthy community networks and for this reason, Malcolm has provided the above advice and guidance free of charge.
Social Responsibility cannot and does not endorse any company that advertises on this website and we won't be held liable or responsible for any loss, damage or other inconvenience caused as a result of the preformance or actions of any business listed herein or any inaccuracy or error within the pages of this website