Who should I appoint as an attorney under a lasting power of attorney?

A lasting power of attorney (LPA) is a document which appoints attorneys to act on your behalf in relation to your property and financial affairs, or health and welfare in the event that you cannot make decisions yourself.

It is imperative that you take the time to carefully pick out those individuals who you would like to appoint as your attorneys because appointing the wrong person can cause severe implications.

Who can be an attorney?

The people you appoint as your attorneys must be over 18, have mental capacity and not have been made bankrupt. 

You should consider the geographical implications of whether the attorney needs to live locally to deal with your finances, or it may be that all your banking is done online, so they don’t need to live near you. 

Whatever your situation, you should consider whether your circumstances change in the future and where your attorneys geographically are in relation to you, which will impact how they can carry out the role as an attorney.

You do not need to appoint the same people as your attorney in relation to your property and financial affairs, and health and welfare. You can appoint family or friends to be your attorneys. They do not have to have any specialist skills to carry out the role. 

If you do not have any family or friends who can act, you can appoint professionals as an attorney. The partners of Birkett Long will be happy to act as attorneys if this is the case, but as they are appointed as professional attorneys, you will be charged for their time in dealing with the management of your affairs.

Property and financial affairs attorney

The attorney can make decisions regarding any financial asset you have, for example, bank accounts and pensions, and they have the power to sell your property.

Under this document, an attorney can act whilst you still have mental capacity and need assistance dealing with your finances. Additionally, the attorney can also act if you were to lose mental capacity in the future.

Health and welfare attorney

The attorney can make decisions regarding what medicine you receive, where you live, and your daily routine, such as washing and eating.

Under this document, an attorney can only act if you were to lose mental capacity. So long as you have mental capacity, then you make any decisions regarding your health and welfare needs, even if they are deemed to be unwise.

How many attorneys should I have?

Usually, you can appoint up to four attorneys in the first instance to act with up to four replacement attorneys who can step in and act if the original attorneys cannot do so.

Practically speaking, four attorneys is rather a lot, especially if they have differing opinions. You need to consider whether the attorneys act well together and share similar perspectives.

If you would like to put in place a lasting power of attorney for health and welfare, or property and financial affairs, please get in touch. I can be contacted on 01206 217609 or via email at [email protected].