At Gordon and Thompson Solicitors, we understand the importance of planning for the future, especially when it comes to decisions regarding your health, welfare, and financial affairs. One powerful legal instrument that empowers individuals to secure their future is the Lasting Power of Attorney (LPA).
An LPA is a vital legal document that allows you to designate a trusted person, known as an attorney, to make decisions on your behalf if you ever become unable to do so due to mental or physical incapacity.
Types of Lasting Power of Attorney:
- Property and Financial Affairs LPA:
- This empowers your attorney to handle financial matters such as managing bank accounts, paying bills, and dealing with property transactions.
- It ensures that your financial affairs are managed effectively, even if you are unable to do so personally.
2. Health and Welfare LPA:
- This grants your attorney the authority to make decisions regarding your healthcare, living arrangements, and other welfare matters.
- It provides you with the assurance that your wishes for medical treatment and general well-being will be respected.
- Eligibility and Capacity:
- To create an LPA, you must be at least 18 years old and have mental capacity at the time of creating the document.
- Choosing Your Attorney:
- It’s crucial to select someone you trust implicitly, as they will have significant power over your affairs.
- The LPA must be registered with the Office of the Public Guardian (OPG) before it can be used.
- Loss of Capacity:
- LPAs can be used if you still have mental capacity unless specified otherwise. However, a Health and Welfare LPA can only be used if you lack mental capacity.
Securing your future and ensuring that your wishes are respected is of paramount importance. With the expert guidance of Gordon and Thompson Solicitors, you can navigate the complexities with confidence and peace of mind.