Richard Higgs, Chartered Independent Financial Planner
Being appointed as an attorney for a Lasting Power of Attorney (LPA) carries significant responsibility. LPAs are legal documents that allow a person (the donor) to designate someone to make decisions on their behalf if they lose capacity.
Understanding LPAs
There are two types of LPAs: one for property and financial affairs, and another for health and welfare. The donor may include specific instructions to guide the attorney(s).
Responsibilities of an Attorney
An attorney holds considerable authority, managing the donor’s finances, property, and healthcare decisions. This requires acting with integrity and always in the donor’s best interests.
Legal and Ethical Duties
Attorneys must act within the scope of the LPA, adhere to the donor’s wishes where possible, maintain transparency, and keep detailed records. Decisions must be guided by the donor’s values and well-being.
Accountability
The Office of the Public Guardian (OPG) oversees attorneys to ensure they comply with legal and ethical standards. Attorneys can be held accountable for any breaches.
Seeking Advice
Being an attorney is an honour, but it requires commitment. Professional advice may be needed, especially for complex decisions, to avoid conflicts and ensure the donor’s best interests are upheld.
If you would like to discuss organising LPAs or if you have any questions about acting as an attorney, please don’t hesitate to get in touch. Call 0117 3636 212 or email office@haroldstephens.co.uk.
Why not join our next free LPA Seminar on Wednesday 6th November, 1pm – 3pm at Stoke Lodge, BS9 1BN? We’ll cover financial and legal obligations as well as reviewing care choices so you can be sure you have covered everything necessary in your LPA. Book with Amy: community@haroldstephens.co.uk / 0117 3636 212.
We record regular video updates on a range of later life financial topics – search ‘Harold Stephens IFA’ on YouTube.
50 High Street, Westbury on Trym, Bristol BS9 3DZ.
Find out more at www.haroldstephens.co.uk
