How long to get lasting power of attorney

December 30, 2016

How long to get lasting power of attorney

LPA stands for Lasting power of attorney, which is a legal tool which is given to a person who is trustworthy and to whom you can give the legal authority through which you can easily make decisions on your behalf regarding the financial affairs like health and welfare so that you can lose the mental capacity to do so.

Your family will not have legitimate authority over your property or on your financial affairs without a valid power of attorney. This implies that they will not be able to access any credential or belongings of yours like your bank account, bills, savings, and loans.

Your family can apply for a lasting power of attorney if it is not in place yet, but this procedure will cost them a fortune and they will waste a lot of time in court proceedings and its processes.

So, you must set up a valid and strong lasting power of attorney for your family and relatives so that they can save a lot of fuss.

A lasting power of attorney is given to someone you can easily rely on by giving the legal authority to make the decisions.

Lasting Power of Attorney can be divided into two types:

A Property and Financial Affairs of LPA :

This type of LPA enables you are having the power to give orders to another person who will be dealing with your property and finances.

A Health and Welfare of LPA: this type of LPA will enable you to give the authority to another person who makes health and welfare decisions as per your needs.

This type of LPA can easily extend by giving and refusing consent to the continuation of life-sustaining treatment.

There are some legal requirements that you should keep in mind when you will order to make an LPA-

1. The age of the person should be 18 years or above.

2. A person must have mental capacity in which a person can understand the extent of the power when you are donating to the person.

There are some of the benefits regarding the Lasting Power of Attorney :

1. You can easily decide who will be the person who can act as your attorney.
2. The person you chose as your attorney must have a good understanding of your needs.
3. If you are mentally active but you are not able to work physically, then your attorney can easily act on your behalf to assist you.

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