You may wish to appoint a family member, friend, or professional person to manage your business affairs either immediately or at a later time if – for various reasons – you are unable to manage those business affairs personally.
We can advise you on this and prepare a lasting power of attorney on your behalf and deal with registration of this document with the appropriate authorities.
What is Lasting Power of Attorney (LPA)?
A Lasting Power of Attorney (LPA) enables you to choose who you would like to manage your property, financial and general affairs should you become unable to manage them yourself, and gives that person the measure of power that you define.
- Your choice of Attorney can be altered at any time, but comes into play either when you choose or when your mental health declines (subject to certain safeguards imposed by the Court of Protection).
- LPAs can extend beyond dealing with your financial affairs to personal welfare matters and decisions, if you so wish. You will also be able to place restrictions on what exactly your Attorney can deal with, such as property or restricting medical decisions.
- LPAs must be registered with the Court of Protection before your Attorneys can act and this may take up to 5 weeks.
- Your Attorneys will have the power to decide on issues such as where you will live, your care and medical treatment.
- They may also give or refuse consent to the carrying out or continuation of medical treatment, according to your wishes, although they cannot act if you are still capable of making those decisions for yourself.
We can advise you on:
- The choice of Attorney or joint Attorneys
- The level of signature or authority that is appropriate
- Restrictions that you would like to impose
- The duties of Attorneys
To find out more about Lasting Powers of Attorney please contact us.
