II. Types of LPA - Which is Right For You?

Two LPAs for Two Different Purposes

There are two distinct types of LPA, each serving a different purpose. One covers decisions about your finances and property, while the other addresses matters of your personal health and welfare.

Both are important because they let you stay in control of your future, making sure people you trust can act for you when you can't.

Two blue signs pointing in opposite directions on a white wall

Property & Financial Affairs LPAs

This type of LPA gives the person you choose the power to handle your money and property. This includes a lot of things, like paying bills, managing your bank accounts, selling your home, and dealing with your investments.

A Property & Financial Affairs LPA can be used as soon as it's set up and registered, even if you still have the ability to make your own decisions. This can be helpful if you are sick or away for a short time and need someone to manage your finances in your absence.

Health & Welfare LPAs

A Health & Welfare LPA gives the person you choose the power to make decisions about your health and well-being. This document can only be used if you have lost the ability to make these decisions yourself.

This type of LPA covers things like your daily routine, where you live, and what you eat. Most importantly, it allows your chosen person to agree to or refuse medical treatment for you, after talking with doctors. This can even include decisions about life-sustaining treatment.

Do I Need Both?

You can choose to have only one type of LPA, but most people find it's best to have both. Having both a Property & Financial Affairs LPA and a Health & Welfare LPA means all parts of your life are covered. This gives you and your family peace of mind.

Without a Health & Welfare LPA, your family might not have the legal power to make important decisions about your care. Without a Property & Financial Affairs LPA, they could have problems paying bills or using your bank accounts.

Getting both LPAs is the best way to make sure your wishes are followed and your future is secure.