The most important advantage of either type of LPA is that you have made the decision as to who you want to deal with your affairs.  It empowers you and does not leave your affairs to be dealt with by others that perhaps you would not want to have making decisions for you.

The next advantage is that it avoids uncertainty and the need for members of your family, friends or professionals to apply to the Court of Protection to become a deputy in order to deal with your financial or healthcare affairs.  It also avoids substantial costs both in terms of making the application and annual administrative costs if professional deputies are appointed.

Unlike an ordinary power of attorney, an LPA will be effective even if you are diagnosed with a mental health problem or disease.

If you have an Enduring Power of Attorney (EPA) – the predecessor to LPAs – your property and financial affairs are probably covered, but an EPA does not deal with health and welfare.

A property and financial affairs LPA gives your attorney(s) the authority to deal with and make decisions on your behalf about such things as:

• the sale or purchase of your home – but not whether or not you should live in your home;
• your bank, building society or other investment accounts;
• the sale or purchase of shares, gilts and other investment products;
• the payment of gas, electricity, water and telephone;
• your tax affairs; or
• legal proceedings of a property and financial nature, for instance PPI mis-selling, debt recovery or defence.

With our assistance you can say that your attorney(s) can deal with all or some of your property and financial affairs or you can say that your attorney(s) can only do some things.  For instance, you might be content for your attorney(s) to sell your home, but only if there is no reasonable prospect of you ever returning to live there independently.  Since a property and finance LPA is a powerful document we recommend careful consideration of any restrictions you might want to place on your attorney(s).

Before a property and finance LPA can be used by your attorney(s) it must first be registered with the Office of the Public Guardian (OPG).  Once registered though your attorney(s) can start making decisions about your property and financial affairs.  If this is something that you do not want to happen we can discuss with you putting a restriction in the property and finance LPA to say that you only want the attorney(s) to begin making decisions when they reasonably believe you have lost you mental capacity to deal with your property or other financial matters.

A health and welfare LPA gives your attorney(s)  authority to deal with your healthcare and welfare.  It only operates once you can no longer deal with, for example:

• giving or refusing medical treatment;
• decisions about ‘life-sustaining’ treatment;
• deciding whether to stay living in your home or moving into residencial care;
• day-to-day welfare such as what to eat or what to wear; or
• day-to-day activities.

In the health and welfare LPA form you will have to decide whether or not you want your attorney(s) to make decisions about ‘life-sustaining’ treatments.  We can offer you guidance when we see you to help you make that decision.

Deciding whether or not to leave your home has financial implications and your attorney(s) will have to consult with your property and financial affairs attorney(s) if any or different, or alternatively seek authority from the Court of Protection.

Like the property and financial affairs LPA, this LPA must be registered either by you or your attorney(s) before it can be used.

A Lasting Power of Attorney is an important and powerful document – you are giving others the power to deal with all that you have accumulated through hard work and/or the power to make delicisions about your health and welfare.

We have more than 20 years of experience drafting powers of attorney from simple powers to Enduring Powers of Attorney that operated before 1st October 2007 to those used in international commerce transacting millions of pounds and dollars.

We will make recommedations about who should be your attorneys, how many attorneys you might want, whether they are to act jointly on all things, severally on others, or even jointly on somethings but not other matters.  We will help you to consider different types of restrictions and other safety mechanisms.

We act for you in your best interest – always.