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Is your Lasting Power of Attorney offering enough protection?
An expert is warning of the importance of properly preparing a Lasting Power of Attorney to ensure the important document offers the right levels of protection.
A Lasting Power of Attorney (LPA) is a legal document which lets people appoint an ‘attorney’ to help them make decisions, or even make decisions on their behalf if they become unable to do so themselves.
There are two types of LPA, covering health and welfare, and property and financial affairs.
Now Sean Aldridge, senior associate legal executive in the Wills & Estate Planning team at regional law firm Napthens, is warning of the importance of having LPAs drawn up properly.
He explained: “LPAs can be very effective, very important documents which can help if people lose capacity – they can protect a business or farm, ensuring third parties can be paid and accounts accessed.
“They can address finances at home and make sure the individual involved can decide how they would like to be cared for.
“However, we have seen a number of cases where LPAs haven’t been drawn up properly and don’t offer these levels of protection. Getting good and proper legal advice at the outset when an LPA is being set up is the key.
“The increase in numbers of people living with conditions like dementia means the protection offered by an LPA has never been more important and will continue to play an important role.
“Therefore people should not attempt to do it themselves without appreciating the seriousness of what is involved.”