Lasting Power of Attorney is a valuable document and tool to allow you to chose someone you trust (up to 4) to administer your affairs whilst you are alive. There are 2 types; one for Health and Welfare and the other for Property and Financial matters. They are separate documents and do different things. You can only get a Lasting Power of Attorney if you have the mental capacity to do so, so it is best practice to get them sooner rather than later as should you lack capacity in any way you would have to go to the court of protection to apply for a Deputyship order instead which is usually very expensive and time consuming, often delaying your care or loved ones the chance to be able to act and help on your behalf even with simple things like paying bills for you if your bank account is frozen.

LPAs replace the older Enduring Power of Attorney (which are still valid but can no longer be obtained). Decisions such as who will be responsible for your banking and how that will operate, where and how you will live, do you have any religious beliefs or dietary requirements you would wish to uphold, would you like to carry on spending time outdoors, do you invest money or make donations? These are all decisions you can make on how you would like to go forward should you lose capacity. Capacity could be physical as well as mental, so as an example, if you were to break a hip and not be able to get to the bank, once your property and financial LPA is registered your attorney(s) could do this for you.   

These documents are only valid when registered with the Office of Public Guardian and will only be valid whilst you are still alive as they die with you and then your Will takes over. The important thing is being able to make those decisions for yourself whilst you are able.

Would you rather leave things to chance? Why?

If you wish to know more, please get in contact.