If you are new to the subject of power of attorney, you might wonder what the differences are. Let’s take a look at how a lasting power of attorney is different from a general power of attorney and why it matters.
What is a lasting power of attorney?
A lasting power of attorney, or LPA, defines what you want to happen to your finances and decisions about your health if you lose mental capacity for any reason, such as dementia, a stroke, or an accident. You must create an LPA as part of a structured process when you have the full mental capacity to do so. If it is approved, it will remain in place as a permanent agreement unless you request that it be amended or cancelled.
An LPA can be put in place to manage your financial decisions and your health decisions. Your nominated attorney will be a highly trusted friend or family member.
How is an LPA set up?
A lasting power of attorney can be set up directly via the government website or through a third-party company that offers power of attorney online applications, such as https://powerofattorneyonline.co.uk/.
What is a general power of attorney?
A general power of attorney, also called an ordinary power of attorney, is set up if you want someone to represent you and make decisions on your behalf for a short period. Again, you must have full mental capacity to put one in place. A general power of attorney can be useful if you are ill, struggling to go out, or going into hospital. Your nominated attorney can deal with specific things defined by you, on your behalf, or deal with everything to do with your property and finances.
Getting help with attorney arrangements
Powers of attorney arrangements can be complex and highly detailed, so it can be useful to obtain specialist legal help to talk you through the options available to you and assist with the process. This will help you to manage the process easily and quickly.