People managing their loved ones’ affairs will find it easier to safeguard their finances and wellbeing after a new online service was launched on 17 July 2020 for newly registered Lasting Powers of Attorney (LPAs) and will eventuallyl be rolled out to all LPAs
A Lasting Power of Attorney (LPA) is a legal document which allows people to appoint someone else (an attorney) to make decisions about their welfare, money or property. They are often used by older people to choose someone they know and trust to make decisions for them were they to lose capacity in the future – but can be used by anyone at any age. The number of registered LPAs has increased drastically in recent years to more than 4 million, with many taking the important step to plan for the future.
It is important to note that if a family member loses mental capacity, without having made a Lasting Power of Attorney, then their bank accounts – including joint accounts – can be frozen by the bank.
The new online tool will
- enable attorneys to contact banks and healthcare providers more easily
- replace the paper-based system which delays important decisions
- maintain safeguards to protect elderly and vulnerable from abuse
Unveiled by the Office of Public Guardian (OPG), the new digital ‘Use a lasting power of attorney’ tool will help those acting as an attorney to contact organisations like banks and healthcare providers more easily. This will improve the speed with which they can make important decisions, such as those related to their loved ones’ care or property.
The current paper-based process can take weeks, as documents need to be requested and confirmed between organisations and individuals, before being posted as physical copies. The new system will allow those acting as an attorney to provide a secure code, which when submitted to the online portal will nearly instantaneously confirm their status as an attorney and the power they hold – authorising them to take actions on their loved ones’ behalf.
If you would like more information about making your Lasting Power of Attorney, please contact me on 07816 921196 or via email at firstname.lastname@example.org. I can simplify the whole process for you, from the comfort of your own home.