Managing your affairs and lasting power of attorney
There may come a time when, because you are incapable of managing your property and financial affairs or personal welfare, you will need someone to do this for you. You can formally appoint a friend, relative or professional to hold a lasting power of attorney that will allow them to act on your behalf.
Lasting power of attorney is a legal document that lets you appoint someone you trust as an ‘attorney’ to make decisions on your behalf.
It can be drawn up at any time while you have capacity, but has no legal standing until it is registered with the Office of the Public Guardian.
A registered LPA can be used at any time, whether you have the mental ability to act for yourself or not.
You can create two types of LPA:
- Property and Affairs LPA
- Personal Welfare LPA
Property and Affairs LPA
A Property and Affairs LPA allows you to choose someone to make decisions about how to spend your money and the way your property and affairs are managed.