Lasting Power of Attorney

Posted 28/02/2008

Until autumn 2007, anyone concerned about their ability to manage their own affairs, due to illness or other incapacity, could appoint a third party to do so under an Enduring Power of Attorney (EPA).

It was a sensible precaution to take, meaning that your family or friends would not need to make an application to the Court of Protection should you lose your mental capacity. Any EPA taken out before 1 October 2007 will continue to be valid.

After the 1 October 2007 the EPA was replaced by new legislation, the Lasting Power of Attorney (LPA) of which there are two types. Similar to an EPA the first type of LPA covers Property and Financial Affairs which, as long as it has been registered, can be used before mental capacity has been lost. The second type of LPA covers Personal Welfare. Your attorney can only use the latter once you have lost capacity. You can have one or both types of LPA.

The new form of LPA is more complicated than the former EPA. If you did not make provision for an EPA prior to 1 October 2007, contact our Wealth Management team to discuss the new options available to you through a LPA.