| Lasting Powers of Attorney

A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint trusted individuals to make decisions on your behalf, ensuring your wishes are respected and carried out.

Types of LPAS:

1. Property and Financial Affairs LPA:

This LPA empowers your chosen attorney to manage your financial matters. This includes paying bills, handling investments, managing bank accounts, and even selling property. You can choose to activate this LPA even while you’re capable, offering flexibility during times when you might be unavailable or find it challenging to manage certain tasks.

2. Health and Welfare LPA:

This LPA comes into effect only if you lose the capacity to make decisions. It grants your attorney the authority to make choices about your medical care, daily routine, and living arrangements, ensuring your well-being is prioritised.

Business Powers of Attorney:

Tailored for professionals, this LPA ensures that your business operations continue smoothly in your absence. It’s a safeguard, ensuring that someone knowledgeable and trustworthy can make crucial business decisions on your behalf.

Enduring Powers of Attorney (EPA):

Before the introduction of LPAs in 2007, EPAS were used. If you have an existing EPA, it’s still valid. However, LPAs offer more comprehensive coverage, including health and welfare decisions. If you have an EPA, consider updating to an LPA to benefit from these additional features.

Understanding the Role of an Attorney:

Being an attorney is a significant responsibility. It’s essential to act in the best interests of the individual you represent. As an attorney, you’re entrusted with:

Making decisions that align with the individual’s known wishes or, if unknown, their best interests.
Keeping their money and property separate from your own and maintaining clear records.
Treating the individual with consideration and respect.
Not taking advantage of your position or the individual’s situation.

Who Should You Designate as Your Attorney(s)?

Choosing an attorney is a pivotal decision. Consider someone who understands your wishes, is trustworthy, and can make unbiased decisions in your best interest.

It could be a family member, close friend, or a professional. Ensure they’re willing to take on this responsibility and understand the duties involved.

Is My Next of Kin Automatically Empowered to Decide for Me?

A common misconception is that next of kin can automatically make decisions if you’re incapacitated. Without an LPA, even close family members don’t have the legal authority to manage your affairs or make health decisions on your behalf. An LPA ensures there’s no ambiguity, granting clear authority to your chosen attorney(s).

What If a Loved One Loses Capacity Without an LPA in Place?

If someone loses mental capacity without an LPA, it can be complex. In such cases, a family member or friend must apply to the Court of Protection to be appointed as a ‘deputy’. This process can be time-consuming, costly, and emotionally draining.

Having an LPA in place avoids this complication, ensuring seamless decision-making during challenging times.

Why Choose Price & Kelway for Your LPA Needs?

At Price & Kelway, we understand the sensitivity and importance of planning for the future. Our experienced team will guide you through the process, ensuring that your LPA reflects your wishes and provides peace of mind for you and your loved ones. We also offer guidance to attorneys, ensuring they understand their roles and responsibilities.

Whether you’re considering an LPA for personal, health, or business reasons, or need advice on an existing EPA, our team is here to assist. Reach out to us for a consultation and let us help you secure your future.