Property & affairs LPA
A lasting power of attorney enables you to appoint one or more individuals (your attorneys) to look after your affairs at some point in the future should the need arise. You must make a lasting power of attorney whilst you are still capable of making decisions for yourself.
A property & financial affairs lasting power of attorney provides your attorney with the power to make decisions about any or all of your financial affairs. This gives you more control over what happens to you, for example, if you have an accident or an illness and cannot make decisions at the time when they need to be made. This is known as lacking mental capacity. If you want to look after the affairs of someone who has already lost mental capacity who does not have a lasting power of attorney or an enduring power of attorney then you will need to make an application to the court of protection to be appointed as the person’s deputy.
A property & financial affairs lasting power of attorney provides your attorney with the right to make decisions as if they were you, but they must also make sure they act in your best interests at all times. They can make decisions about your money and property for example:
- managing a bank or building society account;
- paying bills;
- claiming and collecting welfare benefits or a pension; &
- selling your home.
Your attorney is, however, unable to act on your behalf until the lasting power of attorney is registered with the Office of the Public Guardian (OPG).
A financial affairs lasting power of attorney can also be used when you no longer want to make financial decisions yourself regardless of whether you have lost mental capacity or not.
For anything further, one of our specialists would be delighted to meet you either in our office or in your own home to talk through your requirements and answer any questions. Please contact us at any time.