Whether it is through age, injury or illness, there are times when a family member or loved one may lack the mental capacity to make important decisions. This is where we can help.
A Lasting Power of Attorney (LPA) is a legal document that allows you to grant another person or persons full legal authority to make decisions on your behalf. Unlike an ordinary power of attorney, a Lasting Power of Attorney is effective when you no longer have mental capacity.
There are three different types of Lasting Powers of Attorney:
Property & Financial Affairs LPA:
This document allows you to appoint attorneys to deal with your financial affairs, including accessing bank accounts, pensions, dealing with your tax affairs and any property related matters such as the buying and selling of your home. Once registered with the Office of the Public Guardian, these can be used immediately as well as when you have lost capacity.
Health & Welfare LPA:
This document allows you to appoint attorneys to make decisions relating to your day to day care, and perhaps most importantly, consent to or refuse medical treatment on your behalf.
This can only be used, however, if you have lost the capacity to make decisions for yourself.
As a business owner it is important to consider what would happen if you could no longer make decisions. A business LPA would protect your interests and those of a business. A Business LPA allows you to appoint an attorney to handle financial business affairs specific to your role. Appointing someone qualified to sit on a company board with detailed guidance may be key to the success of your business during a leave of absence or loss of capacity.
DTM Legal can assist with all aspects of putting in place both types of LPAs that are right for you and your family, from guiding you through the initial process of choosing your attorneys, preparing the LPAs on your behalf and completing the registration process.
For further information, please contact our Trusts and Estates Team at DTM Legal using
the contact form below.