INDEX planning for later life
LASTING POWERS of Attorney
Reshma Field, a Partner specialising in advice for the elderly at Buss Murton Law LLP, explains why planning for when you need help is so important
prospect but can you imagine a situation where you or a member of your family can no longer make decisions at all? A Lasting Power of Attorney (LPA) is a legal document that enables someone to make decisions on your behalf. An LPA provides you with added security and peace of mind, because you know that someone whom you know and trust can make decisions on your behalf at a time when you are at your most vulnerable. Without an LPA, it may be necessary for family members to apply to the Court of Protection for authority to look after your affairs. This can be a lengthy and expensive process.
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Who should I appoint as my Attorneys? Your Attorneys should be people you trust to make decisions that are in your best interests. They can be a member of your family, a close friend or someone acting in their professional capacity, if appropriate.
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What powers will my Attorneys have? There are two types of LPA, one for Property and Affairs and one for Health and Welfare. The authority your Attorneys have
you have contact. You must also decide whether to give your Attorneys authority to say ‘yes or no’ consent to life-sustaining treatment. You can also restrict the
powers of your Attorneys. So, for example, you can stipulate that they are unable to sell your property or deal with a particular asset. You can also give your
“It is wise to get an LPA registered before you actually need it to be
used by your Attorneys”
depends on what type of LPA you make and whether you restrict what your Attorneys can or can not do. In respect of a Property and Affairs LPA, your Attorneys could be able to deal with all of your assets, including your bank account and investment portfolio and they could also have the authority to sell your home, for example, if you require long-term care. In relation to Health and
Welfare LPAs your Attorneys can only act when you do not have the mental capacity to make decisions yourself, for example if you had dementia. If this is the case, they may make decisions about your medical treatment, where you live and with whom
Attorneys guidance as to how your assets should be dealt with should particular circumstances arise in the future.
How do my Attorneys make decisions? If you have more than one Attorney, you must specify how they make decisions: jointly, jointly and severally, or a combination of both. If your Attorneys are appointed to make decisions jointly then they must make all decisions together and they will all have to sign any relevant documentation. If they are appointed jointly and severally they have more fl exibility to make and implement decisions.
Can my LPA be used immediately? An LPA must be registered with the Offi ce of the Public Guardian before it can be used by your Attorneys. The registration process ensures that the LPA has been executed correctly and that there are no objections to the registration. However, this can take a few months so it is wise to get an LPA registered before you actually need it to be used by your Attorneys.
What if I already have an Enduring Power of Attorney? If you already have an Enduring Power of Attorney (“EPA”) this is still a valid document and can be used by your Attorneys when you require it to become operative. It can be used without the requirement to have it registered. However, your Attorneys are under a duty to register your EPA if you have become or are becoming mentally incapable of managing your own affairs. Many people often decide to have an LPA covering their Health and Welfare as well as their existing EPA as strictly the EPA gives your Attorneys only authority to manage your fi nances.
Reshma Field of Buss Murton (
www.bussmurton.co.uk) can be contacted on 01892 502320.
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The INDEX magazine January 2012
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