A Lasting Power of Attorney (LPA) is a legal document that allows an individual (the “donor”) to appoint someone (the “attorney”) to make decisions on their behalf if they lose the mental capacity to do so themselves. While LPAs are an essential tool for ensuring that a person’s financial and health decisions are made according to their wishes, there has been growing concern surrounding their abuse.
It is important that you enter an LPA with eyes wide open. Trusting your attorney is key to making sure the position isn’t abused.
The abuse of LPAs typically involves attorneys acting in their own self-interest rather than in the best interests of the donor. This can range from financial exploitation, such as misappropriating funds or selling property for personal gain, to neglecting the donor’s well-being or failing to make decisions in line with the donor’s preferences.
One of the key recommendations to mitigate the risks of LPA abuse is appointing family members or friends who you trust to be your attorneys. Family members often have a deeper understanding of the donor’s values, needs, and desires, making them more likely to act in the donor’s best interests. Additionally, family members typically have a sense of duty and emotional connection, which can reduce the likelihood of exploitation.
While LPAs provide an essential safeguard for individuals who may lose mental capacity, they can be vulnerable to abuse if not handled properly. It is crucial to choose attorneys who are trustworthy, reliable, and capable of making difficult decisions.
To discuss LPAs and your individual circumstances, contact your private client team on 01245 228125 or privateclientenq@gepp.co.uk to see how we can help.
