Financial Quotient

What is lasting power of attorney?

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A Lasting Power of Attorney (LPA) is a legal document that lets you, the donor, voluntarily appoint one or more persons you trust to make key decisions on your behalf. This is important should you lose your mental capacity and you become incapable of making your own decisions. Those appointed, or the donees - usually your family members - can act in two areas: making decisions on your welfare, property and financial affairs, or both.

Should you lose your mental capacity without an LPA, your family members are not automatically given the right to make legal decisions on your behalf.

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A version of this article appeared in the print edition of The Sunday Times on June 23, 2019, with the headline What is lasting power of attorney?. Subscribe