A Lasting Power of Attorney – LPA – is created when someone wishes to entrust another person with significant responsibilities to prepare for future events.
People often make a Lasting Power of Attorney online, so that if in future they fall ill, lose their cognitive functions, or otherwise become incapable of making decisions for themselves, their wishes are still met, with another person making decisions on their behalf.
Two types of LPA
Depending on the type of LPA granted, an attorney’s decision-making powers can vary. For a Property and Financial Affairs LPA, the attorney can access finances, allowing them to pay bills, access banking, or even sell property on someone’s behalf.
Compare this to a Health and Welfare LPA, where decisions regarding healthcare, changes to daily routines, or even the continuation of life-sustaining treatment can all be made – provided the donor is unable to.
While there are two options, this doesn’t mean you have to choose one or the other. You can have one person perform both duties if you wish. By arranging Power Of Attorney Online, you can get a detailed rundown of all the potential power you entrust to someone else.
Best interests
Of course, LPAs are expected to act within the best interests of the donor. This applies regardless of the type of LPA, and must consider both past and present wishes.
Additionally, selecting an LPA does not mean relinquishing all autonomy. People can still be heavily involved in the decision-making process alongside their attorney. However, they are unable to make decisions that aren’t within their LPA’s scope, nor can they use the power for personal gain.
Finances are also involved in the process, in the sense that attorneys must keep their own finances separate from the donor’s. They also keep clear records of transactions or decisions made, and work to avoid conflicts of interest.
Of course, the power of an LPA only goes so far. Attorneys can’t make wills on their donor’s behalf, nor can they delegate their powers. They’re also subject to regular monitoring to ensure they’re remaining accountable.
