Lasting Powers of Attorney
The Lasting Power of Attorney (LPA) in England and Wales
was created under the Mental Capacity Act 2005 and
replaced the former Enduring Power of Attorney (EPA).
What is an LPA?
Whilst a Will is a document that deals with your assets
and allows your executors to handle your affairs after
you’ve gone, a Lasting Power of Attorney (LPA) provides
powers whilst you’re living.
An LPA is a document which gives powers to your
attorney(s) to make decisions for you if you’re unable to
make them yourself.
How many types of LPA are there?
There are two types of LPA:
1) A “Property and Financial Affairs” Lasting Power of
Attorney gives your Attorney the authority to deal with
buying and selling your property, your bills, bank accounts
and investments.
2) A “Health and Welfare” Lasting Power of Attorney covers
decisions about health and care and even deciding where
someone is to live. This can only be used if someone is
incapable of dealing with such matters themselves.
Why make an LPA?
The possibility of losing mental capacity can be a
distressing thought and is often seen as something that
does not need to be considered until the future. However,
it needs to be arranged whilst still having capacity and is
best made sooner rather than later.
Lpa’s are essential if you want to retain decision making
ability within your family.
Don’t assume if you’re married or in
a civil partnership that your spouse
would automatically be able to deal
with your bank account and
pensions, and make decisions about
your healthcare, if you lose the ability
to do so. This is not the case.
Without an LPA, they won’t have
the authority.