Lasting Power Of Attorney (LPA)
As you get older, you may wish to think about what will happen if you become unable to manage your own finances.
Without a Lasting Power of Attorney (LPA) the Court of Protection will appoint a Deputy to manage your affairs for you, who may not be aware of your personal circumstances and in addition there will probably be significant legal fees to pay.
This could apply to anyone, at any age, by reason of illness, disability or mental impairment who may no longer be able to deal with even simple matters like handling a bank or building society account or transacting a house sale.
A Lasting Power of Attorney (LPA) is a legal document that lets you appoint someone to make decisions on your behalf. It can be used at time in the future if you are not able to make your own decisions.
A Property and Financial Affairs LPA lets you choose one or more people to make property and financial affairs decisions for you. The person or people you appoint are known as attorneys.
Once your LPA has been registered your attorney(s) can make decisions for you when you still have capacity, as well as when you lack capacity. For example it may be easier for you to give your attorney the power to carry out tasks such as paying your bills because you:
Your attorney(s) can make decisions for you about any or all of your property and financial matters. These can include: