A Lasting Power of Attorney (LPA) for property and financial affairs is a legal document that allows an individual to appoint someone they trust to make decisions on their behalf regarding their property and financial affairs in the event that they are no longer able to do so due to mental or physical incapacity.

The individual, known as the “donor,” gives the power to the “attorney” to make decisions about their bank accounts, investments, property, and other financial matters. The attorney can make these decisions on the donor’s behalf even if the donor has lost the capacity to make decisions for themselves.

The LPA can be used immediately after it is registered with the Office of the Public Guardian (OPG), or it can be set up to come into effect only when the donor loses the capacity to make decisions for themselves. The donor can specify the powers they wish to give to the attorney and can also include restrictions and conditions on how the attorney can use these powers.

It is important to choose an attorney carefully, as they will have significant control over the donor’s financial affairs. The donor can appoint more than one attorney, and they can choose to appoint them to act jointly or severally, depending on their preference.

In short, a Lasting Power of Attorney for property and financial affairs provides peace of mind to the donor by ensuring that their financial affairs will be managed in the way they would wish in the event of mental or physical incapacity. It is an important aspect of estate planning and should not be overlooked.

In addition to drafting the document, our service includes the process of registering the LPA with the Office of the Public Guardian (OPG). This is an important step in ensuring that the LPA is legally valid and can be used if needed.

To register an LPA, the individual must first complete the LPA form and have it signed and witnessed by two people who are not the attorney or a close relative. The form and any relevant supporting documentation must then be sent to the OPG for registration.

The registration service involves a series of checks by the OPG to ensure that the LPA is legally valid and that the individual who made the LPA was of sound mind and understood what they were doing. If there are any concerns or objections, the OPG may carry out further investigations before deciding whether to register the LPA.

Once the LPA is registered, the attorney can start using it to make decisions on behalf of the individual. It is important to keep the LPA registration up to date and to notify the OPG of any changes, such as a change in the attorney’s address or the death of the individual.

In conclusion, the lasting power of attorney for property and financial affairs is an important aspect of estate planning that provides peace of mind to the individual by ensuring that their property and financial will be managed in the way they would wish in the event of mental or physical incapacity. The registration service with the OPG is an important step in ensuring that the LPA is legally valid and can be used if needed.