Lasting Power of Attorney

(LPA)

A Lasting Power of Attorney (LPA) is a crucial component of comprehensive estate planning, designed to empower you to make decisions about your future, even if you become unable to do so due to mental  incapacity.

LPA is a legal document that allows you to designate someone you trust to manage your affairs and make important decisions on your behalf.

Here's a detailed explanation of Lasting Power of Attorney:

With an LPA, you can appoint one or more trusted individuals known as “donees” to make decisions on your behalf.

These decisions can encompass various aspects of your life, including financial matters, property management, healthcare, and personal welfare.

Here are the powers given to the donees:

Property and Affairs: This type grants your donees the authority to manage your finances, assets, and property, including paying bills, managing investments, and selling property if necessary.

Personal Welfare: This type enables your donees to make decisions regarding your healthcare and personal welfare, including medical treatment, care arrangements, and living conditions.

Choosing Donees: Selecting your donees is a crucial decision. They should be individuals you trust implicitly, as they will have a significant responsibility in managing your affairs. You can appoint family
members, friends, or professionals as your attorneys.

Activation Criteria: An LPA can only be activated when you lack the capacity to make decisions for yourself. This might occur due to advanced age, illness, injury, or other incapacitating circumstances.

Benefits of LPA: Having an LPA in place ensures that your interests are protected, your affairs are managed according to your wishes, and potential disputes among family members are minimized. It offers peace of mind, knowing that your chosen donees will act in your best interests.

Revocation and Amendments: You have the flexibility to revoke or amend your LPA as long as you have the mental capacity to do so. This allows you to adapt your choices to changing circumstances.

Professional Guidance: While it might seem that creating an LPA is a simple process, seeking legal advice or assistance from professionals specializing in estate planning is recommended. They can help you navigate the requirements and ensure that your LPA accurately reflects your wishes.

Receive the latest news

Subscribe To Our Newsletter

Get notified about the latest information & seminars pertaining to Will Your Estate.