Since the 1st October making a Lasting Power of Attorney (LPA) has been the only way of appointing someone to manage your affairs. Enduring Powers of Attorney properly completed on or before the 30th September 2007 are effective.
There are two types of LPA as follows :
(1) Personal Welfare LPA under which you can give your attorney the power to make decisions about any or all of your personal welfare matters including medical treatment or your living arrangements. Subject to certain safeguards you can also give your attorney the power to make decisions on your behalf about “life-sustaining treatment”. Such an LPA can only be made by the donor when he/she has lost the mental capacity to make such decisions
(2) Property & Affairs LPA under which you can give your attorney the power to manage your finances and property whilst you still have the mental capacity to manage your own affairs.
Unlike the Enduring Power of attorney the LPA cannot be used by the donor unless and until it has been registered with the Office of the Public Guardian
The regulations relating to LPAs are complicated and it is important that all those involved with LPAs whether the person making the LPA, the attorney accepting the appointment or the professional drafting the deed taking appropriate legal advice.
Useful link: www.publicguardian.gov.uk
HIPs PRICE from £299 inclusive