Lasting Power of Attorney Property and Financial Affairs

The ‘Property and Financial’ Lasting Power of Attorney (LPA) allows you to make advance plans relating to future buying and selling of property, opening and closing of bank and building society accounts, claiming and receiving state benefits and allowances and other financial issues that involve you.

This type of LPA helps get to grips with property and financial matters such as having authority to manage the donor’s bank account or your joint accounts. This can be very important.

When making an LPA you have to decide who is going to be the attorney, what decisions they can make on your behalf and how they are to make these decisions.

The decisions you must make are:

• who you appoint as your attorney or attorneys
• if two or more attorneys appointed are decisions to be made by all the attorneys jointly or are only some decisions to be made jointly or none need be joint decisions
• what decisions can be taken on your behalf and what cannot
• whether to give any guidance as to how decisions can be made and perhaps some wishes about certain aspects, e.g. I only want to live in Bath or I want to see all Swindon Town home games.
• appointing replacement attorneys

The next step is the option to have some people who know you well enough, to be notified if and when a time comes that your completed Lasting Power of Attorney is sent to the OPG for registration.  This is an important safety feature because it gives any of these notified people the chance to raise any concerns about the registration of the LPA.

The people you appoint to be notified can be family members or friends who would take an interest in this event.

The last part of the first section of the LPA requires you to sign and date it in the appropriate place, before a witness who then must sign and date the form to signify that they have been a witness.

NB. The person(s) to be notified and the witness cannot be  an attorneys or a replacement attorney in your Lasting Power of Attorney.

The LPA Property and Financial Affairs can be registered before you have lost capacity

This can be useful as you can use it for convenience like a general power of attorney. However an LPA Health and Welfare can only be registered after capacity is lost.

Lasting Power of Attorney Service in London

Home visit Lasting Power of Attorney Service Bath

LPA Property and Financial Affairs