Setting up a Lasting Power of Attorney (LPA) is a smart move to protect your future. It ensures that someone you trust can make important decisions about your health and finances if you are unable to do so yourself. Having an LPA in place gives you peace of mind, knowing that your wishes will be carried out even if you cannot communicate them yourself.
An LPA can cover two main areas: health and welfare, and property and financial affairs. You can choose to have one or both types of LPA, depending on your needs. A health and welfare LPA allows your attorney to make decisions about your medical care and daily activities. A property and financial affairs LPA lets your attorney manage your bank accounts, pay bills, and handle other financial matters on your behalf.
In this guide, we will walk you through the process of setting up an LPA step by step. We’ll explain how to choose the right attorney, fill out the necessary forms, and register your LPA with the Office of the Public Guardian. With these simple steps, you can ensure that your future is secure and that your affairs are in good hands.
Understanding Lasting Power of Attorney (LPA)
A Lasting Power of Attorney (LPA) is a legal document that lets you appoint someone you trust to make decisions for you if you become unable to do so. There are two types of LPA: one for health and welfare, and one for property and financial affairs. Each type serves specific needs.
The health and welfare LPA allows your chosen attorney to make decisions about your medical treatment, daily routines, and where you live. This is particularly important if you lose the ability to communicate your wishes due to illness or injury. Your attorney can ensure that your care aligns with your preferences.
The property and financial affairs LPA gives your attorney the power to manage your finances. This includes paying bills, managing bank accounts, and handling property transactions. This type of LPA ensures that your financial matters are taken care of, even if you are unable to manage them yourself. Both types of LPA provide you with a safety net, ensuring that your interests are looked after by someone you trust.
Choosing the Right Attorney for Your Needs
Selecting the right attorney is crucial for setting up an LPA. The person you choose should be someone you trust completely, as they will have significant control over your health, welfare, or finances. Consider their ability to handle these responsibilities and their willingness to act in your best interests.
Firstly, think about their relationship to you. Close family members or long-time friends are often chosen because they know you well and are likely to respect your wishes. Make sure to discuss your decision with them to ensure they are comfortable taking on this role.
Secondly, consider their skills and capabilities. If you are appointing an attorney for financial matters, they should have a good understanding of finances and the ability to manage money responsibly. For health and welfare decisions, they should be someone who can make tough decisions under pressure and communicate effectively with healthcare providers.
You can also appoint more than one attorney. This can be useful if you want to share the responsibilities. You can choose them to make decisions together (jointly) or separately (jointly and severally). Making this choice ensures that if one attorney is unavailable, the other can still act on your behalf.
In summary, choosing the right attorney involves careful consideration of their relationship to you, their abilities, and their willingness to act in your best interest. A well-chosen attorney provides peace of mind, knowing that important decisions will be made according to your values and preferences.
Step-by-Step Guide to Setting Up an LPA
Setting up a Lasting Power of Attorney (LPA) is straightforward if you follow these steps. Here’s a simple guide to help you through the process:
1. Choose Your Attorney: Decide who you want to appoint as your attorney. This should be someone you trust completely to make decisions on your behalf.
2. Fill Out the Forms: You need to fill out form LP1F for a property and financial affairs LPA and form LP1H for a health and welfare LPA. These forms can be downloaded from the government website or obtained through a solicitor.
3. Get It Signed: Once the forms are filled out, you and your chosen attorney must sign them. You also need a witness to sign the forms to confirm your identity. The witness can be anyone over 18, except your attorney.
4. Certificate Provider: You’ll need a certificate provider to sign the forms as well. This person confirms that you understand what the LPA means and are not being pressured into setting it up. The certificate provider can be someone you’ve known for at least two years or a professional like a doctor or solicitor.
5. Send the Forms: After everything is signed, you need to send the forms to the Office of the Public Guardian (OPG). There’s a fee for registering each LPA, so make sure to include the payment with your forms.
6. Confirmation: The OPG will review your application and, if everything is in order, they will register the LPA and send you a confirmation. This process can take up to eight weeks.
Following these steps ensures your LPA is set up correctly, giving you peace of mind that your affairs will be managed according to your wishes.
Registering Your LPA with the Office of the Public Guardian
Registering your Lasting Power of Attorney (LPA) with the Office of the Public Guardian (OPG) is the final step to making it legally effective. Here is what you need to do:
1. Double-Check the Forms: Before sending your forms to the OPG, double-check that all sections are fully completed and signed. Any missing information can delay the registration process.
2. Include the Fee: There is a fee for registering each type of LPA. Ensure that you include the correct amount when sending your forms. If you’re on a low income, you might be eligible for a reduced fee.
3. Send by Post: Mail your forms to the OPG. Make sure to use a reliable postal service to avoid any delays or lost documents.
4. Review Process: Once the OPG receives your forms, they will check for any errors or missing information. If everything is correct, they will proceed with the registration. If there are issues, they will contact you to correct them.
5. Notification: The OPG will formally notify you when your LPA has been registered. This can take up to eight weeks. Once registered, your attorney can start making decisions on your behalf if needed.
6. Keep a Copy: It’s essential to keep a certified copy of your registered LPA in a safe place. You can get certified copies through your solicitor or by contacting the OPG. These copies are useful in case the original document is lost or required for verification.
Registering your LPA ensures that it is ready and valid for use when needed. It finalises the process, giving you and your loved ones peace of mind that your wishes will be respected.
Conclusion
Setting up a Lasting Power of Attorney is an important step in planning for the future. It ensures that someone you trust can make decisions on your behalf, protecting your health, welfare, and finances. By understanding how an LPA works, choosing the right attorney, and following the steps to set it up, you can create a secure plan that honours your wishes.
Once you have completed and registered your LPA with the Office of the Public Guardian, you provide yourself and your loved ones with the assurance that your affairs are in capable hands. The peace of mind that comes from knowing everything is taken care of is invaluable, especially during uncertain times.
If you are considering setting up a lasting power of attorney and want expert guidance, Sovereign Planning is here to help. Our team can assist you in creating and registering your LPA, ensuring that every detail is handled correctly. Contact Sovereign Planning today to secure your future and protect your interests.