We understand that making a Lasting Power of Attorney can often be time consuming to arrange. At Aqua Wealth Management, our goal is to ensure that you and your family have peace of mind, and understand the choices that you can make. 

What is a Lasting Power of Attorney (LPA)? 

A Lasting Power of Attorney (LPA) is a legal document that allows a person (the “donor”) to appoint one or more people (the “attorneys”) to make decisions on their behalf if they lose the mental capacity to do so in the future. LPAs are important for ensuring that someone trusted can manage your affairs if you’re unable to do so due to illness, accident, or age.

What Are The Two Types of Lasting Power of Attorney?

There are two types of LPAs:

Property and Financial Affairs LPA

• This allows the attorney to make decisions about the donor’s financial matters. This includes managing bank accounts, paying bills, collecting benefits, and selling property.
• It can be used as soon as it’s registered, even if the donor still has mental capacity, as long as they give consent.

Health and Welfare LPA:

• This gives the attorney the power to make decisions about the donor’s healthcare and personal welfare. This includes decisions about medical treatment, moving into a care home, and daily care routines.
• This type of LPA can only be used when the donor no longer has the mental capacity to make these decisions themselves.

What Should I Consider?

Choosing an Attorney: It is crucial to appoint someone who you trust, as they will have significant control over your affairs.

Capacity Assessment: The LPA is only valid if the donor has mental capacity when they create it. It must be registered with the appropriate legal body (the Office of the Public Guardian in England and Wales) before it can be used.

How We Can Help

We will offer you and your attorneys a meeting to discuss the process, explain the options available, and complete all the documents.

We will help you decide what is best for you and your family ensuring you understand all the benefits and features. We will also witness the signatures and send the forms to the Office of the Public Guardian with recorded delivery.

Once the documents arrive after registration, we will help you create an account, so that you can use your LPA online. 

The Financial Conduct Authority does not regulate Lasting Powers of Attorney.