Property and Financial Affairs LPA
What is a Property and Financial Lasting Power of Attorney?
A Property and Financial Lasting Power of Attorney (LPA) allows you to make advance plans to manage your estate and affairs or to nominate someone to assist you whilst you still have mental capacity.
This may relate 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 will assist your nominated attorney to manage your property and financial matters for you, such as having authority to manage your bank account or your joint accounts.
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.
If you choose to register immediately, The LPA Property and Financial Affairs can be used by your attorney even before you have lost mental capacity if this is your decision. This can be useful as you can use it for convenience like a general power of attorney.
Please note that if you have very complex financial arrangements we may refer you to seek additional advice from a specialist financial advisor or solicitor.