LASTING POWER OF ATTORNEYS
A Lasting Power of Attorney (LPA) is separate from a Will and is designed to give someone else the power to make certain decisions on your behalf if you are no longer able to do so.
Accessing someone’s finances if they become incapacitated or ill is a complex process, which could make things very difficult for a spouse, partner or children. Bills could go unpaid and if cash is needed for any purpose, it would be inaccessible. Setting up an LPA allows someone that you trust to act on your behalf should the need arise. Your chosen person can then manage your affairs in your best interests. This could be in the long term or until such time that you are able to take up the reins again yourself.
There are two kinds of LPA; one concerns any financial decisions to be made for you such as how your property is managed and how your bills would be paid (LPA Property and Affairs); and the other which regards your healthcare, medical treatment and where your should live if you were to move in to a residential care home (LPA Health and Welfare).