Lasting Powers of Attorney (LPAs) are an effective way of dealing with your affairs should you suffer major illness, become mentally ill or in any way lose the capacity to manage your own affairs (whether temporarily or on a permanent basis). LPAs replace, to a great extent, Enduring Powers of Attorney (EPAs), although EPAs which have been executed before 1 October 2007 are still effective. As a result there are two regimes which run side-by-side and we have the expertise to advise on them both.
Our clients often wish to consider the use of a general power of attorney. This is a document by which you can appoint someone to deal with a specific transaction on your behalf, for example if you are abroad for a period of time, or if you require someone else to deal with your affairs in general. They do not continue in the event that you lose capacity to manage your own affairs. Trustees can delegate their functions by means of a special form of trustee power of attorney.