What is best for you
General Powers of Attorney
This document allows another person, or people, to make financial decisions for you while you still have mental capacity. It can be appropriate for situations where you need someone to act on your behalf while you are away, or hospitalised, or if you are unable to attend your Post Office or bank, and you need someone to access your accounts in your absence. The scope of a General Power of Attorney can be limited to specific assets, and to specific periods of time.
Lasting Powers of Attorney (LPAs, formerly EPAs)
This document allows another person to make decisions for you, either if you lose mental capacity, or if you wish to give that responsibility to someone else while your mental capacity remains. There are two different types, covering different aspects of life:
LPA for health and welfare decisions – This type is only valid after you have lost mental capacity, and allows your appointed attorney to determine your medical care, your diet, your place of residence, your permitted contacts, and your social activities. You can also include a stipulation allowing your appointed attorney to make choices for you regarding life-saving treatments.
LPA for property and financial decisions – This type is flexible, so you can opt to allow its use while you still have mental capacity, or you can prevent its use until you lose mental capacity. You can also limit its scope, so that your attorney can only make specific types of financial decision for you, or you can allow them to make all your financial decisions, including bill payments, property repairs, investments, and the buying and selling of property. LPAs replaced Enduring Powers of Attorney (EPAs) in 2007, but a signed EPA should still be valid in law.
Scotts Hall & Birtles Solicitors can act as your appointed attorney – as both General Power of Attorney, and Lasting Power of Attorney – or we can provide advice and guidance on the appointment of someone else. In many cases, it can be beneficial to have an independent party serve as Power of Attorney, providing both a sense of security, and an assurance that the burden of decision-making will not have to be shouldered by a loved one.
To learn more about how we can help you with General Powers of Attorney and Lasting Powers of Attorney, please contact our team today.
