Power of Attorney

What is a Lasting Power of Attorney?

Often, lasting powers of attorneys (LPA) are associated with the elderly. However, this is a misconception that needs to be addressed.

Currently only 6% of the population have either a LPA or Enduring Power of Attorney (EPA). They are a protection product as important as any other such as life insurance or buildings insurance.

A LPA is a legal document that enables a chosen attorney to look after your affairs or make decisions on your behalf if you are incapacitated. They can only be used in the specific circumstances specified in the document.

Types of LPA

There are two types of LPA:

  • Property and Financial Affairs; this document allows a designated attorney to deal with property, accounts, investments etc.
  • Health and Welfare; this document allows a designated attorney to make medical decisions on your behalf.
Choosing the right attorney is imperative. You can choose anyone of sound mind over the age of 18 years old. You should choose someone you trust that is responsible and will take the responsibilities of being your attorney seriously.
Usually people choose their spouse, children, relative or trusted friend to be their attorney. We suggest choosing someone close to you rather than a professional, however some professional services are available for the Property and Financial Affairs LPA.
You can choose more than one, and specify how decisions are to be made, whether ‘jointly’ or ‘jointly and severally’. The latter meaning they can act independently of each other.