Do you want to protect your loved ones if you cannot make decisions for yourself? Are you curious how Lasting Powers of Attorney can help safeguard your future and provide peace of mind? Look no further! In this comprehensive guide, we'll deep dive into everything you need to know about Lasting Powers of Attorney - from what they are, how they work, and why they're important. Whether you're just starting your estate planning journey or looking for more information on protecting your assets and interests, this post covers everything. So grab a cup of tea, settle in, and let's get started! 

What is a Lasting Power of Attorney?

 A lasting power of attorney (LPA) is a legal instrument that designates one or more individuals to act on behalf of the "donor" or person creating the LPA if the "donor" is unable to do so.

 The number of people signing up to have a legal representative manage their money if they cannot do so has increased dramatically in recent years. It is primarily attributable to the growing awareness that even if a person is in good physical health, they may be unable to make decisions due to mental or cognitive impairment caused by illnesses like dementia and Alzheimer's.


When should you make a Lasting Power of Attorney?

 Making a Lasting Power of Attorney (LPA) is a key part of planning for your future and ensuring that your wishes are carried out if you lose the ability to make decisions. There is no one-size-fits-all answer to when you should make an LPA, as the best time will vary depending on your circumstances. However, some general considerations can help you decide whether making an LPA is right for you.

 If you have young children, it may be wise to make an LPA sooner rather than later, as this will ensure that someone you trust can make decisions on your behalf if you cannot. Similarly, if you have significant assets or property, it is important to consider who you would want to manage these if you could not do so yourself. Making an LPA gives you the peace of mind of knowing that your affairs will be handled according to your wishes.

 If you have a medical condition that could deteriorate over time, such as dementia, making an LPA now can ensure that your wishes regarding your care and treatment are followed, even if you lose the ability to communicate them yourself. Finally, even if none of the above apply to you specifically, there is no harm in making an LPA now – it simply means that everything will be in place should the need arise.


The Different Types of Lasting Powers of Attorney

There are two types of Lasting Powers of Attorney (LPA): one for property and financial affairs and one for health and welfare.

 A property and financial affairs LPA lets you appoint someone to make decisions about your money and property on your behalf. This could include selling your home, managing your bank accounts, or collecting your pension.

A health and welfare LPA lets you appoint someone to make decisions about your healthcare and personal welfare, including giving or refusing consent to medical treatment on your behalf.

 You can choose to have one LPA or both – it's up to you. You can also appoint more than one person to act as your attorney, although you should think carefully about this as it could cause difficulties if they don't agree on a decision. You must be 18 or over to make an LPA, and you must be mentally capable of making your own decisions when you make the appointment.

A LPA Certificate Provider plays a vital role in the LPA process by certifying that the person making the LPA (the donor) understands the nature and scope of the document and is not under any undue influence or duress. This is a crucial safeguard to ensure that LPAs are made with informed consent and without coercion.


 Lasting Powers of Attorney are an important way to ensure that your future wishes and decisions will be carried out, even if you cannot do so yourself. We hope this article has given you a better understanding of exactly what it is and how it can help protect both you and your family in the long term. If you need more assistance or advice on setting up an LPA, don't hesitate to contact an LPA certificate provider who can guide you through the process step by step.