Creating a lasting power of attorney (LPA) is a crucial step in planning for your 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 can include financial matters, healthcare decisions, and more. By setting up an LPA, you ensure that your wishes are respected and that someone you trust has the authority to act in your best interests.

An LPA is not just for the elderly. Unexpected events can happen to anyone, at any time. Having an LPA in place provides peace of mind, knowing that your affairs will be managed according to your preferences. It’s an important legal document that helps prevent uncertainty and disputes among family members during difficult times.

The process of creating an LPA may seem daunting, but it is straightforward if broken down into manageable steps. This guide will walk you through each step, from understanding what an LPA is, to choosing the right person to act on your behalf, filling out the necessary forms, and finally registering the LPA to make it legally binding. By following these steps, you can ensure that your future is protected and your wishes are clear.

Understanding Lasting Power of Attorney

A lasting power of attorney (LPA) is a legal document that grants someone you trust the authority to make decisions on your behalf if you become unable to do so. There are two types of LPA: one for financial decisions and one for health and welfare decisions. Each type serves a different purpose and is essential in managing your affairs.

The financial LPA allows your appointed attorney to handle your monetary matters. This can include paying bills, managing your bank accounts, and even dealing with property transactions. This ensures your financial affairs are kept in order even if you cannot manage them yourself.

The health and welfare LPA covers decisions about your daily routine, medical care, and even life-sustaining treatment. Your attorney can make choices that align with your preferences and best interests, ensuring you receive the care you want. Setting up both types of LPA ensures all aspects of your life are looked after if you lose capacity.

Choosing Your Attorney

Selecting the right attorney is one of the most important steps in creating an LPA. This person will have significant control over your financial matters or personal welfare, so it is crucial to choose someone you trust completely. Here are key factors to consider when choosing your attorney:

• Trustworthiness: The most important quality is trust. Your attorney should be someone who will act in your best interests and respect your wishes.
• Capability: Ensure the person you choose is capable of handling the responsibilities. For financial LPAs, they should be good with managing money and understanding financial matters.
• Availability: Choose someone who is likely to be available when needed. Consider their age, health, and personal circumstances.
• Willingness: Your chosen attorney must be willing to take on the role. It is a significant responsibility, so they need to understand what is involved and agree to carry it out.

It is also a good idea to consider appointing more than one attorney. You can appoint joint attorneys who must make decisions together or allow them to act separately. This can provide a check and balance system, ensuring decisions reflect your best interests.

Completing the Necessary Forms

Once you’ve chosen your attorney, the next step is to complete the necessary forms to create your lasting power of attorney (LPA). For this, you’ll need to fill out specific forms provided by the government. These forms are straightforward but require careful attention to detail to ensure they are completed correctly.

• Get the Forms: You can download the LPA forms from the official government website or request them by mail. There are two separate forms: one for the financial LPA and one for the health and welfare LPA.
• Fill in the Details: Provide your personal information and the details of your chosen attorney. You will also need to state how you want your attorney to act on your behalf. Be clear and precise in your instructions to avoid any ambiguity.
• Witnessing Signatures: Signing the LPA forms must be done in the presence of witnesses. The forms require the signatures of the donor (you), the attorney, and witnesses. Ensure that these are valid and correctly dated, as improper witnessing can invalidate the LPA.
• Certification: A certificate provider must confirm that you understand the LPA and are not under any pressure to create it. This person can be someone who has known you for at least two years or a professional such as a doctor or solicitor.

Registering Your Lasting Power of Attorney

After completing the forms, you must register your LPA with the Office of the Public Guardian (OPG) before it can be used. Registration is essential because it makes the LPA a legally binding document, ensuring that your attorney’s authority is recognised.

• Submit the Forms: Send the completed LPA forms to the OPG. You will need to pay a registration fee, so include payment details or a cheque with your forms.
• Notification Period: There is a waiting period while the OPG processes your application. During this time, the OPG will notify you and your attorney about the registration. This allows for any objections to be raised if necessary.
• Receive Confirmation: Once the OPG approves your application, you will receive a confirmation letter that your LPA is registered. Keep this document safe, as it proves that your LPA is valid and can be used by your attorney.
• Activation: Your LPA can now be used by your attorney whenever needed. For financial LPAs, your attorney can step in as soon as the LPA is registered if you grant them immediate authority. For health and welfare LPAs, the attorney can only act when you are no longer able to make decisions for yourself.

Conclusion

Setting up a lasting power of attorney ensures your wishes are respected and your affairs are managed by someone you trust. By understanding what an LPA is, choosing the right attorney, completing the necessary forms, and registering the LPA, you can safeguard your future and provide clarity for your loved ones.

If you’re ready to create your lasting power of attorney or need assistance with other estate planning matters, contact Sovereign Planning. Our expert team is here to guide you through every step of the process, ensuring your peace of mind and security. Don’t wait—take control of your future with Sovereign Planning today.