A Lasting Power of Attorney is a legal document that enables you to appoint a trusted person or persons to make decisions on your behalf, should you become physically or mentally incapable of doing so in the future.
There are two types of Lasting Power of Attorney:
- One which deals with your property and financial affairs (such as paying bills, dealing with banks/investments, arranging and collecting benefits and even selling a property)
- And the other which deals with health and welfare (such as where you live, care issues and even giving or refusing life sustaining treatment)
Without a Lasting Power of Attorney, the burden on your loved ones could be quite significant if you lose capacity. Your assets could be frozen and an application would have to be made to court with the aim of appointing someone to make decisions on your behalf. Not creating the Lasting Powers of Attorney takes away your ability to choose the person or persons who you would want to make these important decisions for you.