Why DIY disasters are not limited to your property- they can affect your finances, health and welfare too!
Lasting Powers of Attorney (LPAs) are the only way of ensuring major life decisions are carried out by your trusted friends or family in the event that you become mentally or physically incapacitated.
Encouragingly the number of LPA registrations is steadily increasing however, recent research by Solicitors for the Elderly has shown that a worrying number of these are being prepared by individuals without seeking legal advice, so-called DIY LPAs.
The Office of the Public Guardian introduced online LPAs in 2014 which has been the number of DIY LPAs increase by 35%, the OPG are considering removing the requirement that an LPA is signed in pen. The new ‘e-LPA’ would allow a valid LPA to be created entirely digitally. Considering that an attorney appointed under an LPA potentially has the same full legal rights as the donor the potential for fraud and financial abuse is clear and alarming. It is therefore important that anyone wanting to make an LPA, or wishes to encourage another to make an LPA, seeks specialist legal advice before doing so.
http://www.sfe.legal/public/the-risks-of-diy-lpas