Always In your Corner
There are several types of Powers of Attorney:
Ordinary Power of Attorney (OPA):
Ordinary Power of Attorney (OPA):
Ordinary Power of Attorney (OPA):
This type of Power of Attorney is suitable when the donor needs someone to act for them for a limited period or for specific financial or property transactions, and they have the mental capacity to manage their own affairs. An OPA is only valid while the donor retains mental capacity.
Special Power of Attorney:
Ordinary Power of Attorney (OPA):
Ordinary Power of Attorney (OPA):
Also known as a Limited Power of Attorney, this allows the donor to grant authority to the attorney to manage specific issues only, typically for a one-time financial or legal act, often when the donor cannot be present to act themselves, such as selling property abroad or managing specific legal matters.
Lasting Power of Attorney (LPA):
This is crucial for long-term planning. An LPA becomes effective when a donor loses mental capacity and can no longer manage their affairs independently. There are two types of LPA:
- Health and Welfare LPA: This allows the appointed attorney to make decisions about the donor's daily routine, medical care, living arrangements, and life-sustaining treatment.
- Property and Financial Affairs LPA: This permits the attorney to manage the donor's bank accounts, pay bills, collect benefits, and sell the donor's house, among other financial matters.
It's vital to recognise the importance of setting up an LPA early. Waiting until a medical diagnosis or an event that impacts one's capacity can often be too late, as the LPA cannot be registered once the donor has lost capacity. Arranging an LPA in advance ensures that your affairs can be managed according to your wishes without legal complications or delays.
