This podcast episode continues with the estate planning theme, explaining the role of a Lasting Power Of Attorney for either health related matters or property and financial affairs.

Key Takeaways

  • An individual can create an LPA covering all their affairs or just their health and welfare.

  • At the point the appointed attorney believes their donor is losing their mental capacity they must apply to The Office of Public Guardian to register the LPA to attain continuing authority.

  • A code of practice applies to holders of LPAs including the requirement to keep the grantee’s funds separate from their own or anyone else’s.

  • There are strict limits on the gifts that attorneys can make on the donors behalf.

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