There are two sorts of Lasting Power of Attorney (“LPA”) – a Property and Affairs Lasting Power of Attorney and a Personal Welfare Lasting Power of Attorney. We can prepare either but we most frequently deal with Property and Affairs Lasting Powers of Attorney.
An LPA is a document which authorises somebody else to do things on your behalf. It need not be used until either it is needed or you want it to be used. However, if you own your house either on your own or jointly with someone else, or you have any investments or pensions or other assets in your name, if you had an accident or if you became very ill or confused, what would happen to everything in your name? Nobody would have any automatic authority to deal with these things, not even your partner.
If you make a Property and Affairs LPA you will authorise the person that you choose to do things on your behalf. It can be drafted to cover as much of your affairs as you want it to or just one particular item. It can give as much authority or as little as you want.
If you make an LPA and then change your mind afterwards it is possible to take it back or “revoke” it.
You may have been asked to act as an Attorney for somebody else. There are strict legal rules about how you make decisions for another person, and we can advise you on these.