There can be absolutely no doubt in the fact that there is the great importance of offering the lasting power of attorney to a close and trusted friend or relative. Lasting power of attorney gives individuals the flexibility of choosing people who can act on behalf of them in the form of an attorney and come up with their own decisions regarding the financial affairs and the property of the individual. The lasting power of attorney is granted to friends or relatives only when an individual is no longer able to make his or her decisions himself or herself. The decisions include running savings accounts and bank accounts; decisions on spending money and decisions regarding selling or making investments.
A lasting power of attorney is a legal document that is made by a certain donor allowing an attorney or some other person to make decisions regarding the welfare and the health of the donor along with his or her affairs and property. There are two varieties of the lasting power of attorney, and they are:
- A Personal Welfare LPS that offers power to the attorney for making decisions regarding the personal welfare and the healthcare of the donor.
- A Property and Affairs LPA that offers power to the attorney for making decisions regarding the financial affairs and the property of the donor.
How can a Lasting Power of Attorney Solicitor Help?
Lasting power of attorney solicitors offer proper advice on preparing a lasting power of attorney. They also carry out the task of preparing this legal document on behalf of their clients or the donors.