Last year, 8,360 applications for the Lasting Power of Attorney (LPA) were accepted, an increase of almost 160 per cent from 2014. Minister for Social and Family Development Tan Chuan-Jin revealed these figures in Parliament on Thursday.
1. What is the LPA?
The LPA is a legal document that allows a person to appoint an individual to make key decisions for him, should he lose his mental capacity and become unable to do so.
2. Who can make an LPA?
You must be at least 21 years old, have the mental capacity to make the LPA, and not be an undischarged bankrupt.
3. What are the benefits of making an LPA?
The LPA allows you to protect your interests by indicating your personal, considered choice of a proxy decision maker - someone you trust to be reliable, competent and capable - to make decisions and act on your behalf should you become vulnerable when you lose the mental capacity to make your own decisions one day.
By having an LPA in place, it also alleviates the stress and difficulties faced by your loved ones if you should lose mental capacity.
4. How do I make an LPA? How much does it cost?
You first need to decide who you want to appoint as your donee, or the one who would make decisions and act on your behalf, and what decision-making powers you want to give him. You may choose to give him general powers for all your personal welfare and/or property & affairs - then you would use LPA Form 1 - or only specific powers as indicated in your LPA - then you would use LPA Form 2.
Most applicants use Form 1, and the $50 application fee for that form has been waived till Aug 31 for all Singaporeans. The fee for Form 2 is $200, and is for those who have larger, more complicated assets.
There are also online guides available to help you prepare your LPA application here: https://www.publicguardian.gov.sg/opg/Pages/The-LPA-How-Can-I-Make-a-Las...
5. Where can I go to for more information?
* call 1800-226-6222, or
* e-mail firstname.lastname@example.org, or