Once you have made a Will you’ll be able to enjoy the reassurance of knowing that your affairs will be taken care of after your death. But you can also set up an arrangement to appoint people to look after either your financial and personal affairs or both, if you become incapable of doing so yourself during your lifetime. This is known as a Lasting Power of Attorney (LPA) and it ensures that your affairs will always be taken care of by one or more of the attorneys chosen by you to safeguard your interests.
How does a Lasting Power of Attorney work?
An LPA is a legal document and there are two different types that you can set-up:
- Property and Affairs LPA, in which you choose one or more people to deal with your financial affairs
- Personal Welfare LPA, in which you choose one or more people to deal with your personal affairs, such as decisions about your healthcare and welfare.
The two LPAs are separate and you can appoint different people for each area. Neither document can be used until it has been registered with the Office of the Public Guardian, and a Personal Welfare LPA can only be used if you do not have the capacity to make decisions about your own healthcare and welfare.