What Types of LPA Are There?
08 February 2019
There are two types of Lasting Power of Attorney that you can put in place – one that covers your property and financial affairs and one that covers your health and welfare. You can choose to just put one type of LPA in place, or you can choose to put both types in place.
How Does Each Type of LPA Work?
A Lasting Power of Attorney (LPA) is a legal document in which you can appoint one or more people you trust to act as your attorney(s). In order to activate the LPA, it needs to be registered with the Office of the Public Guardian so that your attorneys will be able to step in and make decisions on your behalf when necessary.
Health and Welfare LPA
A Health and Welfare LPA will give your attorney legal authority to make decisions about your healthcare, medical treatments, living arrangements and general welfare. A Health and Welfare LPA can only be used by your attorney if you lose the mental capacity to make these decisions for yourself.
This means that if you suffer an accident or illness and can no longer make decisions or express your wishes, then someone you trust will be able to step in immediately to take control of these matters for you. Your attorney will be able to speak on your behalf and make decisions for you on things such as where you would like to live, how you would like to receive care, and what medical treatment you would be happy to receive.
Without a Health and Welfare LPA, no one will have the legal authority to step in and make these decisions for you. This could mean that you are cared for in a way that you would not have wanted, as the decisions have been taken out of your loved one's hands.
Property and Financial Affairs LPA
A Property and Financial Affairs LPA will grant your attorney the legal authority to manage any property, money or financial assets that you own in England and Wales. This means that they can withdraw money on your behalf to buy groceries or pay your bills, and they also have the authority to sell property or other assets that you own if the need arises.
With a Property and Financial Affairs LPA, you can choose when you would like your attorney to be able to act. This could be as soon as the LPA is registered or only at some point in the future e.g. if you become unable to make these decisions for yourself – whichever you choose.
If you have assets in England and Wales but are planning to leave the country on a permanent or temporary basis, for example, you may want someone who's in the country to be able to manage your financial affairs whilst you are away. Or it may be that you have mobility issues so, whilst you remain able to make decisions for yourself, it would be of practical help to give someone you trust the authority to do that for you. These are some of the ways in which a Property and Financial Affairs LPA could be used.
Each LPA Works Independently
If you choose to put both types of LPA in place, these will work independently of one another meaning that you can appoint different attorneys in each of them and, as mentioned, the attorneys can be given authority to act at different times.
With Co-op Legal Services, a Lasting Power of Attorney costs from £225 +VAT (£270 including VAT). Mirror Lasting Power of Attorney (for two people) start from £375 +VAT (£450 including VAT).