What are the different types of Power of Attorney and do I need one?
2 August 2022
Powers of Attorney are a vital document to make sure that if you ever lose mental capacity your assets and affairs can be dealt with by someone of your choosing.
There are a range of different types of Power of Attorney, all serving different purposes.
Here are two of the most common types of Power of Attorney:
Property and Financial Affairs Lasting Power of Attorney
A Property and Financial Affairs LPA allows for another person to act on behalf of you in regards to your property and finances. This includes, but is not limited to, bank accounts, investments, savings, pensions, utility bills and credit cards. It means that if you cannot deal with those matters yourself then your named attorney can step in and run those matters for you.
Health and Welfare Lasting Power of Attorney
A Health and Welfare Lasting Power of Attorney allows for another person to act on your behalf in regards to your health and welfare. This only applies if you lack the mental capacity to make these decisions for yourself. This may be a decision about where you should live or what type of care you should receive. If you lack mental capacity but need to get hospital treatment or medication, then your attorney can step in and make those decisions on your behalf too.
Here is a video recorded by our Joint Head of Wills, Probate & Trusts, Lauren Smith:
Our Wills, Probate & Trusts team are experts in the field. If you have any questions or queries with anything regarding a Will, then our team can be reached by calling 01302 341 414 or by filling out our online enquiry form!
In this article we only covered the main two types of Power of Attorney, however for more information on the other types of Power of Attorney please see below:
