The Different Lasting Powers of Attorney

There a number of different types of Lasting Powers of Attorney which are explained in more detail below.

• Lasting Powers of Attorney Health and Welfare
• Lasting Powers of Attorney Property and Financial Affairs
• Commercial Lasting Powers of Attorney

Lasting Powers of Attorney Health and Welfare

A Lasting Power of Attorney Health and Welfare can allow you to appoint one or more people to make decisions about your health and care if you are unable to make those decisions yourself.

The types of decisions can include all those things we take for granted such as our diet and daily dress, through to bigger decisions like where we are to live and what type of care we might receive. In the most serious of cases your Attorneys, if you so choose, may have the power to decide whether or not to give or refuse consent to life-sustaining treatment on your behalf.

Lasting Powers of Attorney Property and Financial Affairs

A professionally drafted Lasting Powers of Attorney can ensure the people or person you trust the most can manage your financial affairs for your benefit, should you lack the mental capacity to do so.

Your Attorneys can protect your assets when you are at your most vulnerable and make sure your best interests are taken care of. By taking the time to prepare a Lasting Power of Attorney you can tailor the provisions to suit your specific circumstances.

Your Attorney will have the authority, subject to any restrictions you might wish to impose, to:

• Buy and sell property on your behalf.
• Manage your investments.
• Deal with your pensions and other sources of income.
• Make sure all of your bills and liabilities are paid.

Commercial Lasting Powers of Attorney

You may consider creating an Lasting Powers of Attorney that deals specifically with your business interest. Whether you are a partner of a business or the director of a limited company, your Commercial LPA will make sure your business continues to run smoothly in the event that you should become unexpectedly incapacitated. If you find yourself in this position without an LPA in place, your business could suffer tremendously, putting strain on your family, business partners, and colleagues. This could affect payment of wages, contracts may not be able to entered into and creditors might not be able to be paid.

A commercial LPA is different to a personal LPA. The people you appoint under a Personal Power of Attorney might not be the same as those you would appoint under a Commercial Power of Attorney. For instance, you may not think it suitable to appoint a relative or a friend, but rather someone who knows your business and has the requisite experience and expertise to make proper business decisions.

Keeping Your Documents Safe

Once you have finalised your Lasting Powers of Attorney, it is essential to keep it safe and to tell your executor or a close friend or family member where it is. At Fraser Dawbarns, our clients benefit from a free storage service so they can be sure that after making their LPA, it will be kept safe. As well as storing your original documents for you, we will send you a copy.

Other Related Services

Making a Will

Making a Will allows you to specify what will happen to your assets on your death. Arranging to make a Will as well as an LPA means that you can go into later life assured that your interests are being protected, whatever is around the corner. Find out more about Making a Will.

Court of Protection

When a person has been assessed as lacking mental capacity and does not have in place an appropriate Lasting Power of Attorney, the Court of Protection will often become involved. Fraser Dawbarns offers specialist advice and services relating to issues concerning an individual’s mental capacity and the associated proceedings at the Court of Protection. Find out more about our Court of Protection services.

Attorney and Deputy Disputes

If a dispute has arisen regarding a Power of Attorney, and you would like help with this issue see our Power of Attorney Disputes service page.