Should I speak to my parents about making a Lasting Power of Attorney?
The short answer is yes! It is a common misconception that a Lasting Power of Attorney (LPA) is only required if you are elderly. Unfortunately, mental or physical incapacity does not discriminate and therefore it is sensible for everyone to consider making an LPA.
Private Client Solicitor Emma Batstone discusses why LPA’s are so important. Under an LPA, the donor (the person making the LPA) appoints attorneys to make decisions for them when they are no longer able to make these decisions for themselves. It is imperative that the donor trusts their attorneys and that, if they are appointing more than one attorney, they get along. It is the attorneys’ duty to act in the donor’s best interests and they must follow the principles set out in the Mental Capacity Act 2005 (which includes encouraging the donor to make their own decisions as long as they are able to).
There are two types of LPA which can be made: Property & Financial Affairs and Health & Welfare. The following types of decision can be made under these LPAs:
Property & Financial Affairs
- Buying and selling a house
- Managing investments
- Running a business
- Accessing and using bank accounts
- Paying bills
Health & Welfare
- Treatment and care the donor receives
- Decisions as to where the donor lives and with whom
- Day-to-day matters such as diet and daily routine
- Give or refuse consent to life sustaining treatment
If a person does not have an LPA in place and later becomes incapacitated, their loved ones may face long delays and expense in applying to the Court of Protection to make the decisions listed above on the donor’s behalf.
Raising the topic of making an LPA can be difficult, especially with those who are close to you, however it is far more sensible for them to make an LPA earlier (in the hope that it will never be needed) rather than later (when it may be too late).
To put an LPA in place or for advice on ensuring your existing LPA is ready to use when needed speak to Emma Batstone today on 01935 813691 or email Emma.Batstone@mogersdrewett.com.