A Lasting Power of Attorney (LPA) is a legal document which allows you (the Donor) to appoint someone (the Donee) to make decisions and act on your behalf in the event that you lose the mental ability to make these decisions yourself.
Anyone who is at least 21 years old with necessary mental capacity can have a LPA prepared. A person may be deemed not to have mental capacity if they have medical conditions that affect the brain, such as stroke or dementia, or if they have mental health issues.
A Donee has to be at least 21 years old and have mental capacity. As a Donee has great responsibilities under the LPA, your Donee has to agree to the appointment with full understanding of what it entails.
You can give your Donee powers to make decisions on your Health and Welfare and/or Property and Financial Affairs. You can also set restrictions to these powers.
Decisions on Health and Welfare refer to general day-to-day care decisions, living agreements, social activities, contact with other people, etc.
Decisions on Property and Financial Affairs refer to the management of the assets such as buying, selling, renting and mortgaging your property; opening, closing and operating your bank accounts; handling tax matters; investing your monies, etc.
The list is not exhaustive, and you can refer to the Mental Capacity Act for more details.
You can appoint more than one Donee, to act either jointly or jointly and severally. Donees wo are required to act jointly must all agree on any decision made, while Donees allowed to act jointly and severally can make decisions together or separately.
A Donee will step in to act and make decisions on your behalf only when you are medically certified as having lost your mental capacity. As long as you possess mental capacity, the Donee cannot step in to make decisions on your behalf even if a LPA has been prepared and registered.
To ensure that your LPA covers all your needs adequately and that your Donees are empowered to act on your behalf to the extent that you intend, call Yeo Law at 62203400. Our empathetic and effective team will give you peace of mind and ensure that you will be well supported in the event that a LPA is needed.