When people start planning for the future, the subject of lasting powers of attorney, or LPA, is likely to arise. Most commentary stresses the dangers of not having a property and financial affairs LPA; however, a second type of LPA covering health and welfare is equally important but frequently overlooked.
What are the two types of LPA?
The two forms serve distinct and complementary purposes. A property and financial affairs LPA empowers trusted individuals to manage your assets, bills, and property if you lose capacity; a health and welfare LPA gives those closest to you the legal authority to make decisions about your care, medical treatment, and living arrangements. Without an LPA, key decisions could fall to the Court of Protection instead of your loved ones.
When does a health and welfare LPA become operative?
Unlike its financial counterpart, a health and welfare LPA takes effect only once you can no longer make rational decisions for yourself. It becomes invaluable with the onset of conditions such as dementia, when observing and fulfilling your wishes is paramount.
Is the application process complicated?
There is no need to be put off by the prospect of making an LPA, as it is simple to apply for an LPA online. It still requires physical paperwork to be signed, but this is a small part of the LPA online procedure.
Both LPAs are essential. Together, they protect your finances, wellbeing, and personal dignity, giving peace of mind that your affairs and care are managed exactly as you intended.
