LPA stands for Lasting Power of Attorney. It is a powerful legal document. It is the power of an individual to appoint some-one as their official attorney to make decisions on their behalf in the future over property, finances or even healthcare and care decisions. You can appoint an attorney at any time, you just need to assure your lawyer that you have full mental capacity to make the decision.
LPAs are a great idea and something we would suggest that every-one has in place as it allows you to control the appointment, you get to appoint some-one you know and trust to make decisions for you in the future if you are not able to because you are confused or no longer have the ability.
If an LPA is not in place by the time you lose mental capacity through a stroke, accident or dementia, deputies are appointed by the Court of Protection.
The government has introduced an online portal where you can make an application online with the payment of a fee. However, it is this form that opens vulnerable people to abuse. The Office of the Public Guardian reported a 44% increase in the number of investigations into the actions of attorneys and deputies in 2017/18.
Use an expert
It is really sensible to plan ahead for such eventualities to protect yourself and your assets but it is a really big decision. We would advise getting expert advice at the outset. Involving a solicitor in the process means all the necessary protections are in order to safeguard your investments. What price for peace of mind?
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To receive specific legal advice in respect of any legal matter please contact your nearest JMP Solicitors office