Setting up a Lasting Power of Attorney (LPA) is a crucial step in planning for the future. An LPA allows you to appoint someone you trust to make decisions on your behalf if you become unable to do so yourself. This legal document ensures that your financial, health, and welfare choices are managed according to your wishes, providing peace of mind for you and your loved ones.
Making arrangements for an LPA might feel overwhelming, but it’s a vital part of safeguarding your future. Without an LPA, your family may face challenges in making important decisions for you, potentially leading to delays and complications. By proactively setting up an LPA, you ensure that your chosen representative can act swiftly and in your best interest.
In 2024, understanding the steps to establish an LPA is more important than ever. With clear guidance and careful planning, this process can be straightforward and manageable. Taking these steps now will protect your interests and ensure that your affairs are handled smoothly, no matter what the future holds.
Choosing the Right Type of Lasting Power of Attorney
When setting up a Lasting Power of Attorney (LPA), the first step is to choose the right type for your needs. There are two main types of LPA: Property and Financial Affairs LPA and Health and Welfare LPA. Each type serves a different purpose, and it’s important to understand what each one covers in order to make an informed decision.
A Property and Financial Affairs LPA gives your attorney the authority to make decisions about your finances and property. This includes managing bank accounts, paying bills, collecting benefits or pensions, and selling your home if necessary. This type of LPA can be used while you still have mental capacity, as well as when you no longer do.
On the other hand, a Health and Welfare LPA allows your attorney to make decisions about your personal healthcare and welfare. This includes giving consent to or refusing medical treatment, deciding on living arrangements, and day-to-day care matters like diet and dress. This type of LPA can only be used when you are no longer able to make those decisions yourself. Knowing the distinctions between these two types helps you choose which one suits your circumstances best, ensuring that your needs and wishes are met comprehensively.
Selecting Your Attorney(s)
Selecting your attorney, or attorneys, is a crucial part of setting up an LPA. Your attorney is the person who will make important decisions on your behalf, so this choice requires careful consideration. You can appoint one or multiple attorneys, depending on your preferences and the complexity of your affairs.
Trust is the most important factor when choosing an attorney. The person you select should be someone you can rely on to act in your best interests. They must be over 18 years old and mentally capable of making decisions. You may choose a family member, a close friend, or a professional, such as a solicitor. It’s also wise to consider their ability to handle the responsibilities involved, such as managing finances or making healthcare decisions.
If you decide to appoint multiple attorneys, you’ll need to specify whether they will act jointly (together on all matters) or jointly and severally (together or independently). This decision affects how smoothly decisions can be made and implemented. Discussing your wishes with your chosen attorneys in advance ensures they understand their roles and responsibilities. This preparation helps avoid potential conflicts and ensures that your affairs will be managed effectively and according to your preferences.
Completing the Necessary Forms
Once you have chosen the type of LPA and selected your attorney(s), the next step is to complete the necessary forms. The forms required for an LPA can be obtained from the Office of the Public Guardian or downloaded online. It’s important to fill out these forms accurately to avoid any delays or rejections in the process.
The forms will require detailed information about you and your chosen attorneys. Be prepared to provide personal details such as names, addresses, and dates of birth. You will also need to outline the specific powers you are granting to your attorney(s). There are sections in the form that allow you to include preferences and instructions, guiding your attorney(s) on how you’d like them to make decisions.
You will also need to have the forms witnessed and signed by an independent witness and a certificate provider. The certificate provider ensures that you understand the purpose of the LPA and that you are not being coerced into signing it. This adds an extra layer of protection to the process. Completing these forms meticulously is vital for setting up a legally sound LPA.
Registering Your Lasting Power of Attorney
After completing the forms, the final step is to register your LPA with the Office of the Public Guardian (OPG). Registration is essential for the LPA to be legally recognised and effective. Until it is registered, your attorney(s) will not have the authority to act on your behalf.
To register your LPA, you will need to submit the completed forms to the OPG and pay the applicable fee. The OPG will review your documents to ensure everything is in order. The registration process can take several weeks, so it’s advisable to do this well in advance of when you might need the LPA to be active.
Once registered, you will receive a confirmation and a registered copy of your LPA from the OPG. It’s important to keep this document safe and accessible. Inform your attorney(s) that the LPA is now active, and provide them with copies if necessary. Registering your LPA is a crucial step in making sure that your chosen representatives can act swiftly and in accordance with your wishes when the time comes.
Conclusion
Establishing a Lasting Power of Attorney is an important process that ensures your wishes are respected, and your affairs are managed according to your preferences. By choosing the right type of LPA, selecting trustworthy attorneys, completing the necessary forms diligently, and registering with the Office of the Public Guardian, you take control of your future and provide peace of mind for yourself and your loved ones.
At Sovereign Planning, we understand the complexities involved in creating an LPA and are here to assist you every step of the way. Protect your future and ensure your decisions are honoured. Contact us today for expert guidance and support in setting up your Lasting Power of Attorney.
