What is Lasting Power of Attorney?

It is completely understandable to feel uneasy when there is a possibility that you are losing the ability to make your own decisions. This can be unsettling for most individuals. However, it’s important to acknowledge that having a power of attorney in place can alleviate any uncertainty and future difficulties for you and your family.

A power of attorney is a legal document that grants another individual, known as an agent, or more commonly known as an attorney, the legal authority to make decisions and take actions on behalf of yourself or a loved one.

The level of authority granted through a power of attorney can be tailored to the specific needs and preferences of the principal (person requesting for LPA). The authority given can be limited to specific areas or tasks, such as managing a family estate. The principal retains the power to define the limits, duration and conditions of the power of attorney, providing flexibility and control over the attorney’s actions.

The power of attorney is not only relevant in times of temporary or permanent incapacitation, but also in proactive planning for the future. It allows individuals to make choices in advance, designating a trusted person who can step in and act when needed, avoiding potential conflicts or delays. By establishing a power of attorney, individuals can protect their interests and ensure that their affairs are managed in alignment with their wishes.

Choosing the right attorney should be done with careful consideration. Understanding the rights, duties and potential risks associated with a power of attorney is essential for both the principal and the attorney to navigate this arrangement effectively.

The process for establishing a power of attorney can take 20 weeks or more. It is advisable to plan in advance, so you are not left having to put one in place in an emergency.