Lasting Power of Attorney DLS
LASTING POWER OF ATTORNEY
There are two Lasting Power of Attorney’s that you can complete:
Health and welfare – You can choose one person or more to make decisions on your behalf regarding medical care, life sustaining treatment, moving into a care home etc. under Health and Welfare.
Property and Financial Affairs – You can choose one person or more to make decisions about money and property for you e.g. paying bill on your behalf, collecting benefits, paying school costs, selling your home etc.
You can choose to make one type or both.
You can restrict or specify the types of decisions your attorney can make or you can allow them to make all decisions on your behalf.
If you’re setting up an LPA for financial decisions, your attorney must keep accounts and make sure their money is kept separate from your money.
An Enduring Power of Attorney (EPA) created before October 2007 remains valid. However, EPA’s have now been abolished.
If you own your own business then a Lasting Power of Attorney can prove a vital tool in business contingencies and many insurance companies are requiring this.