Lasting Power Of Attorney
A Lasting Power of Attorney enables you to decide, in advance, whom you would like to manage your finances (a Property and Affairs LPA) and your personal - including where you live- and (if you wish) healthcare affairs (LPA Personal Welfare).
The people you appoint become your Attorneys.
Not having such arrangements will mean it is necessary for someone to apply to the Court of Protection to be appointed as a Deputy to manage your affairs, under the supervision of the Court through the Office of the Public Guardian.
This is clearly much more expensive and less satisfactory than choosing you own attorneys in advance. Any dealings with the Court of Protection are likely to be time consuming and bureaucratic.
The Personal Property and Affairs LPA (equivalent to an old Enduring Power of Attorney) can be used immediately if the donor wishes, but must, by law, be registered first.
A Personal Welfare LPA can only be used if you lose mental competence, once it too has been registered at a current cost of £150 per document.
Both documents must be signed in front of witnesses, and a Certificate Provider, who may be a friend or some types of professional, must certify that you understand what the LPA means, and that you appear mentally competent at that time.
