A Lasting Power of Attorney (LPA) is the appointment of one or more trusted individuals to make decisions on your behalf, should you lose the capacity to do so. These individuals are known as attorneys.
In the UK, an LPA is a document in which you, the donor, legally allow attorneys to make decisions about your health, welfare, or finances.
Appointing a Lasting Power of Attorney (LPA) is one of the most important decisions you can make when planning for the future, and in this mini guide, we will consider how to choose the right attorney.
There are the things you should consider when appointing a person who could one day make critical decisions about your life:
Trust and reliability
Your chosen attorney must be someone you can place considerable trust in. Not only should you be confident that they will prioritise your needs above all else, but also that they will act with honesty and integrity.
It should also be noted that attorneys have a legal duty to act in your best interests.
Willingness and ability
Your chosen attorney should be both willing and able to take on the responsibility. Being sure of this will help avoid difficulties later on.
Have an open discussion about the role with a person you are considering. This is an opportunity to remind them that acting as an attorney can be time-consuming and potentially emotionally draining, too.
Skills and experience
In England and Wales, there are two main types of LPA: Property and Financial Affairs and Health and Welfare. The skills required of an attorney will depend on the type of LPA.
If you are appointing an attorney for a Property and Financial Affairs LPA, look for an individual who is comfortable managing money, paying bills, handling bank accounts, and maintaining accurate records. Financial awareness and organisational skills are key.
An attorney for a Health and Welfare LPA will take up a more personal role, making decisions about aspects of your life such as medical treatment, care arrangements, or daily routines. Choose someone with a calm temperament who can think logically when making difficult decisions.
Location and availability
Practical considerations should be taken into account. For example, an attorney who lives nearby or is readily available can attend meetings more easily. They will also need spare time to deal with paperwork and be willing to respond quickly to urgent issues.
Today, a large share of communication is possible via phone and email, but proximity is still an advantage where face-to-face meetings are concerned.
Capacity to act
In the UK, attorneys must be over the age of 18. They should also have the mental capacity to make decisions themselves.
An attorney’s future state of mind should also be considered. Are they likely to remain capable and available in the long term?
Compatibility
Does your attorney understand your values, beliefs, and personal preferences? Naturally, these characteristics are important when choosing someone to make choices on your behalf.
Compatibility and shared values are especially relevant when it comes to health and welfare decisions, which require judgments to be made about your care or treatment. Ultimately, someone who knows you well is more likely to make decisions that reflect your wishes.
One attorney or more?
Note that you may appoint more than one attorney. If you do appoint several attorneys, they can either act jointly, conferring with each other to make decisions, or jointly, acting independently and together.
Joint appointments can provide checks and balances, but may be less practical if quick decisions are needed. It is generally accepted that a joint and several arrangement often offers greater flexibility, covering your LPA for scenarios such as one attorney dying or losing capacity.
Conflicts of interest
It is important to choose someone who can act without conflicts of interest.
Family members with financial expectations, business partners, or joint property owners are all examples of individuals who may have competing financial interests.
For example, an individual with competing financial interests may not always be best placed to make impartial decisions on your behalf.
Taking time to consider each of these factors, doing all you can to make sure your affairs are managed in line with your wishes if the time comes.
Bennett Smith offers solicitors in Llandudno, Bangor and North-Wales wide, regularly advising clients on selecting suitable attorneys and preparing LPAs. Call our team today on 01248 671994 to discover how we give you confidence and peace of mind when deciding on an attorney.
