POWER OF ATTORNEY
It is worthwhile also considering what would happen if you were unable to manage your affairs yourself whilst still alive. Who would make those decisions about your finances or welfare? The legal solution to this situation is to put in place a Power of Attorney. This gives someone else the legal authority to act on your behalf.
There are two types of Power of Attorney and these state specifically what your attorneys can and can’t do with regards to your personal welfare and affairs:
General Power of Attorney – This is a very affordable option, can be set up easily and can be used without it having to be registered. The General Power of Attorney (GPA) cannot be used for decisions concerning medical or personal welfare and cannot be used if you become mentally incapacitated.
Lasting Power of Attorney – The Lasting Power of Attorney is separated in to two parts. The first deals with Property and Financial Affairs or PFA. The second deals with Health and Personal Welfare or HW. If both are required then separate LPA documents must be completed on each. LPA’s must also be registered at the Office of Public Guardian (OPG) and can continue to be used after a person has lost mental capacity.