In preparing and registering LPAs, you have control over who can make decisions for you, by appointing attorneys that you know and trust to act in your best interests.
There are two types of LPAs, the first being for property and financial affairs, and the second covering health and welfare. The former allows you to appoint attorneys to make decisions regarding your property and financial affairs where you are finding things difficult to manage on your own, either for practical reasons or due to physical or mental incapacity. This LPA grants your attorneys authority to run your bank and savings accounts, make/sell investments, pay your bills and buy/sell property.
The LPA for property and financial affairs can be used whether you have lost mental capacity or not, as soon as it has been registered with the Office of the Public Guardian (OPG). This is a government body in England and Wales that officially registers, stores and oversees LPAs to ensure they are legally valid and properly used. An LPA has no legal power until the OPG has approved and registered the same, who will then hold a copy on record.
If following the registration of an LPA there are suspicions that your attorneys are misusing your assets, acting improperly, or ignoring your best interests, they can be reported to the OPG who has powers to investigate these claims and refer serious matters to the police.
On the other hand, your LPA for health and welfare can only be used if you lose mental capacity and grants your attorneys authority to make decisions regarding where you live, the type of health care and medical treatment you receive (including life-sustaining treatment) and day-to-day matters such as your diet and daily routine.
You can also include preferences and/or instructions in your LPAs. For example, you might prefer your attorneys consult a particular financial adviser or accountant when dealing with your financial affairs, or you may wish to set out preferences in relation to your future living arrangements.
Without valid LPAs, if you were to lose mental capacity, someone would need to apply to the Court of Protection to be appointed as your deputy and you would have no control over who is appointed. This process is expensive and time-consuming, and your affairs cannot be managed until a Court Order is granted, potentially causing difficulties accessing funds to pay for your care or other financial/health difficulties. In registering LPAs, you can have peace of mind knowing that you have trusted people who can assist you should the need arise.
CooperBurnett’s main office is in Tunbridge Wells, however we can arrange a meeting with you in Dartford or the surrounding area.
For more information on LPAs or to book an appointment to discuss the same, please do not hesitate to contact Courtney Magnus by email: chm@cooperburnett.com or tel: 01892 515022
This blog is not intended as legal advice that can be relied upon
Originally published in Dartford Living: https://www.dartfordliving.com/
