Taylor Fordyce Articles

Lasting Powers of Attorney

March 2012

Those that plan for the future should consider that they might be involved in an accident or become ill and may have been wise to have made an Enduring Power of Attorney (“EPA”) or a Lasting Power of Attorney (“LPA”) which replaced EPAs in October 2007. These allow a designated person or persons to manage the finances and welfare of the person who has made the LPA (“Donor”) if the Donor has lost capacity.

If an individual loses mental capacity an LPA will allow your designated attorney or attorneys to care for you and protect your assets. An LPA is a legal document that allows you to set out your wishes for the future (maybe you would like to be cared for at a certain location) and plan ahead by choosing the people who will make decisions on your behalf. Another important point to note is that LPA’s are different from Will’s in that a Will becomes effective upon death and an LPA becomes effective during your lifetime.

If you don’t make an LPA and do lose mental capacity you will not be able to choose who will be your attorney. Secondly, your loved ones will need to make an application to the Court of Protection in order to be granted the power to look after you and this process can be long and expensive. This is important as without an LPA or Court of Protection order nobody can access your funds.

LPAs come in two forms, Property and Financial Affairs - this allows you to delegate authority over your property and finances and Health and Welfare - this allows delegation over your health and Welfare issues to include such things as special nursing provisions and life-sustaining treatment.

If you have any questions on LPAs please contact us.