Please note that this article has been taken directly from The Law Society’s website. If you wish to read the article via the original source, click here.
10 May 2016
People are living longer so it is vitally important we plan – not just for our own care, but also help our parents plan as well. There may come a time where we can no longer make these vital decisions about our future finances and our care.
Lasting Powers of Attorney (LPA) are one way to plan ahead. They enable you to choose to give someone you trust the power to act on your behalf in situations which you have identified. They are your attorney.
There are two different types of LPA: property and affairs, and health and welfare. You can choose to make both types, or just one. You can have the same attorney for both, or you can appoint different attorneys.
The first type of LPA covers decisions about money and property. If there comes a time when you can no longer manage your finances, the attorney will do this for you. This could include paying bills, collecting benefits, or selling your house.
A health and welfare LPA allows the attorney to make decisions on your behalf about your future day-to-day care if you are no longer able to care for yourself, including, if you wish, the power to accept or refuse life-sustaining treatment on your behalf.
You decide what powers the attorney can have.
President of the Law Society Jonathan Smithers said:
‘These are big decisions, but Dying Matters Week may be the excuse you need to have this vital conversation with those close to you. Once you have an idea of what you – or perhaps your parents or other older relatives – want to do, talk to a solicitor about getting a Lasting Powers of Attorney drawn up and registered.’