Property & Finance LPA
A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint a family member or friend to make decisions on your behalf should at any time in the future you are unable to make your own informed decisions about your Property, Finances, health or welfare. Once your LPA has been registered your attorney will be able to make decisions on your behalf.
This type of LPA enables you to appoint an attorney to make decisions for you when it is in connection with your property and financial affairs. The appointed Attorney is only able to make decisions on relating to your property or finances. The property and Financial Affairs LPA can be used if
- You are not able to make decisions due to Injury, illness or because of loss of mental capacity.
- You wish for someone else to manage your property and financial affairs because you are away from home or in hospital.
You are able to give the attorney power to make decisions about:
- Making payments for Household bills and care arrangements.
- To claim and receive your Pension or State Benefits.
- To be able to apply for or cashing in any investments you might hold.
- To make a decision on either buying or selling your home.
- Opening and closing of any bank or building society accounts.
- Transferring of money in to or out of their bank or building society accounts.
A Property and Financial Affairs LPA will not allow the attorney to make any decisions in relation to your Health or Welfare.
A LPA cannot be used until it has been registered with the Office of Public Guardian. The time taken to register an LPA can be up to 10 weeks and this will be subject to a fee payable to the Court on application.