A Lasting Power of Attorney (LPA) is an important document that allows you to appoint someone to make decisions on your behalf if you are unable to do so. This might be due to illness, injury, or simply the effects of ageing. Having an LPA in place ensures that your affairs are managed by someone you trust, giving you peace of mind and protecting your best interests.

Creating an LPA is not just for the elderly or those with chronic illnesses. Accidents and unexpected events can happen to anyone at any time. By setting up an LPA, you prepare for unforeseen circumstances, ensuring that your health and financial matters are taken care of according to your wishes.

In this guide, we’ll explore what an LPA is, why it’s crucial to have one, and provide a step-by-step process for creating an LPA. We’ll also discuss how to choose the right person to act as your attorney. With this knowledge, you’ll be well-prepared to safeguard your future and maintain control over important decisions in your life.

What Is a Lasting Power of Attorney (LPA)?

A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint someone to make decisions on your behalf if you’re unable to do so. There are two types of LPAs: one for health and welfare, and another for property and financial affairs.

1. Health and Welfare LPA: This type of LPA covers decisions about your personal health and wellbeing. It includes decisions about your medical treatment, where you live, and your daily care. This LPA can only be used when you’re unable to make these decisions for yourself.

2. Property and Financial Affairs LPA: This LPA gives your chosen person the authority to manage your financial matters. This includes paying bills, managing investments, and handling your property. Unlike the Health and Welfare LPA, this can be used even if you’re still capable, with your permission.

Having an LPA ensures that someone you trust is in charge of making decisions for you, rather than leaving it to the courts. It offers peace of mind knowing your affairs will be handled according to your wishes during difficult times.

Why You Need a Lasting Power of Attorney

An LPA is crucial because it provides security and clarity in uncertain situations. Here are some compelling reasons why you need one:

1. Protection in Illness or Injury: If you become seriously ill or injured and can’t make decisions, an LPA ensures that a trusted person can act on your behalf. This avoids the need for lengthy and costly court proceedings to appoint a deputy.

2. Financial Security: An LPA helps protect your financial interests by allowing someone you trust to manage your finances. This person can pay bills, manage your bank accounts, and take care of any investments, ensuring your financial affairs are in good order.

3. Personal Care: For health and welfare decisions, an LPA allows your chosen person to make important choices regarding your medical care and living arrangements. This ensures your health preferences are respected.

4. Avoids Family Disputes: An LPA clarifies who has the responsibility to make decisions for you, reducing the chances of family disagreements. Everyone knows who is in charge and what your wishes are.

5. Peace of Mind: Knowing that you have an LPA in place offers peace of mind. You can rest assured that someone you trust will make the right decisions on your behalf, reflecting your values and preferences.

By setting up an LPA, you safeguard your future, ensure your wishes are honoured, and provide support for your loved ones during challenging times.

Steps to Create a Lasting Power of Attorney

Creating an LPA involves several important steps to make sure the document is valid and reflects your wishes. Here’s a simple guide to help you get started:

1. Choose Your Type of LPA: Decide if you need a Health and Welfare LPA, a Property and Financial Affairs LPA, or both. Each one handles different aspects of your life, so it’s important to think about what you want to cover.

2. Select Your Attorney(s): Choose a trusted person or people to act as your attorney(s). They will have the authority to make decisions on your behalf, so pick someone reliable and trustworthy.

3. Fill Out the LPA Forms: You can get the LPA forms from the Office of the Public Guardian (OPG) website. The forms will guide you through providing details about yourself, your attorney(s), and the decisions they can make.

4. Sign and Witness: Once the form is completed, it must be signed by you and your attorney(s). You will also need a witness for each signature to validate the document. An independent witness helps ensure everything is done correctly.

5. Register with the OPG: Send the completed and signed forms to the OPG for registration. There is a fee for this service, but it ensures your LPA is legally recognised and can be used when needed.

6. Notify Relevant Parties: Once your LPA is registered, inform your family, doctors, and financial institutions so they are aware of the arrangement. This helps ensure everyone follows your wishes when the time comes.

By following these steps, you can create a valid and effective LPA, giving you and your loved ones peace of mind.

How to Choose the Right Attorney for Your LPA

Choosing the right person to be your attorney is one of the most important parts of creating an LPA. Here are some tips to help you pick the best person for the job:

1. Trustworthiness: Your attorney will have a lot of power over your affairs. Make sure you choose someone you trust completely. This could be a family member, a close friend, or even a professional like a solicitor.

2. Reliability: Choose someone who is reliable and organised. They should be able to handle the responsibility of managing your affairs and making important decisions.

3. Understanding Your Wishes: It’s important that your attorney understands your values and preferences. This ensures they can make decisions that align with your beliefs and desires.

4. Willingness to Act: Talk to the person you are considering and make sure they are willing and able to take on the role. It’s a significant responsibility, so they should be prepared for what it entails.

5. Proximity: While not always necessary, it can be helpful if your attorney lives nearby. This can make it easier for them to manage your affairs and meet with relevant parties if needed.

6. Experience: If possible, choose someone who has experience managing similar responsibilities. This could be someone who has acted as an attorney before or has professional experience in legal or financial matters.

By carefully selecting your attorney based on these factors, you ensure that your interests are well-protected and your wishes are carried out effectively.

Conclusion

Creating a Lasting Power of Attorney is a vital step in planning for the future. It ensures that someone you trust can make important decisions on your behalf if you’re unable to do so. Understanding what an LPA is and why it’s essential helps underline its importance in safeguarding your health, welfare, and financial affairs.

The steps to create an LPA may seem detailed, but they ensure the document is legally binding and reflective of your wishes. Choosing the right attorney is equally crucial. You want someone trustworthy, reliable, and understanding of your values. This ensures your interests are protected and respected.

Taking these steps now gives you peace of mind and helps your loved ones avoid unnecessary stress and confusion in the future. It’s a proactive way to take control of your future and make sure your wishes are honoured.

For professional assistance in setting up a Lasting Power of Attorney, contact Sovereign Planning today. Our expert team is ready to help you navigate this important process with ease and confidence. Providing peace of mind for you and your loved ones is our priority – reach out to us now to ensure your future is secure.