Lasting Power of Attorney

What is the Lasting Power of Attorney(LPA)?

The Lasting Power of Attorney is a legal instrument to allow a person (the Donor) to appoint one or more person (the Donee) to make decisions on his/her behalf in an event where the donor loses the mental capacity to manage his/her own affairs. The LPA comes into effect in an event where the Donor loses his/her mental capacity and is terminated upon the Donor’s death.

1. There are many advantages to making a LPA and such advantages include but are not limited to:
2. The Donor’s bank account would not be frozen in an event where he/she loses his/her mental capacity. The Donee will be able to access the Donor’s bank account and manage the Donor’s financial matters on his/her behalf.
3. The Donor will be able to appoint a person he/she trusts to manage his/her affairs for him/her. This will prevent a stranger or someone he/she does not trust from having such power.
4. If the Donor’s family is dependent on him/her, their interest and well-being will still be ensured.
5. The Donor’s health and personal welfare will be taken care of by someone he/she trusts. The Donee will be able to make decisions regarding the Donor’s personal and medical care.
6. The Donor’s family would not need to undertake the costly and time-consuming process of applying to the court to appoint a deputy to take charge of the Donor’s affair.

Who needs to make a LPA?

Mental incapacity can occur at any time to people of all ages, either through accidents or illnesses. As such, everyone should make a LPA to protect not only his/her interest but also the interest of his/her family members should unforeseen circumstances arise.

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(This article is for your general information only and is not to be considered as formal legal advice to you. You may contact us at 6836-5944 should you require specific legal advice. )
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