Estate planning can seem like a dull topic, but if you want to ensure your wishes are honoured after death or incapacity, you need to think about it in advance. This does not just mean a will but also a lasting power of attorney, or LPA.
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An LPA is an important legal document that allows you to designate a chosen person, called an attorney, to be legally responsible for decision-making if you are mentally incapacitated. Some LPAs are about managing your financial affairs, including taxes, bills, debts, property and other assets. Others are about health and welfare, giving the attorney authority to consent to medical treatment or choose a care home.
Why Is an LPA Important?
LPAs become active when you do not have the mental capacity to make decisions for yourself, such as if you develop dementia. This means creating one is your best opportunity to ensure that someone you trust and who understands your wishes will be the person given control if you become incapacitated. LPAs are especially important in urgent situations where decisions must be made quickly, such as with emergency medical care.
When you designate your LPA, you can discuss your wishes with your attorney so you feel confident that they will follow your preferences. Without an LPA, there will likely be a time-consuming and expensive court process to gain control of your affairs, and there is no guarantee they will be successful.
How Do You Create an LPA?
You can create LPA’s online through Power of Attorney Online or similar services. Applying for an LPA online is the same as it would be in physical form. You find and designate your trusted attorney or attorneys, complete the paperwork, have it signed by an independent witness and certificate provider, and then officially register it with the Office of the Public Guardian.
Creating an LPA is your opportunity to ensure that your chosen person is empowered to make decisions on your behalf. If they are going to control your medical care or financial matters, they need to be trustworthy.