As you may be aware, the Lasting Power of Attorney (LPA) was introduced into legislation in the UK some years ago. An LPA allows a person (the donor), who may in the future lack capacity to make decisions, to grant to an attorney the power to make decisions relating to his health and welfare and his property and financial affairs on his behalf and in his name.
There is no such comparable legislation in Cyprus currently, although we have now submitted a dossier to Government here in an endeavour to introduce similar legislation as soon as possible.
There are two different forms as mentioned above:
Property & Financial Affairs LPAs
This type of LPA includes business matters, legal transactions, investment decisions, banking transactions and other dealings of a similar kind.
The authority under such an LPA to an attorney can even come into effect immediately thereby enabling transactions to be effected (with the donor’s permission) whilst the donor still has mental capacity, which can be very useful if travelling or suffering from, say, a broken arm.
More than one person may be appointed as an attorney, enabling decision making to be either a joint (total agreement) or a joint & several (either may make a decision) option.
As it is a UK document, it is only applicable to assets in the UK.
Health & Welfare LPAs
The Health & Welfare Lasting Power of Attorney grants authority in the UK to act in relation to a wide range of matters relating to the donor’s health and wellbeing including such matters as:
Consenting to or refusing medical examination, treatment or intervention including DNR decisions
Living arrangements and day-to-day care including diet and dress
Arrangements for medical, dental or optical treatment
Complaints about the donor’s care or treatment
It takes about 20 weeks to register an LPA with the Office of the Public Guardian in the UK and as we never know ‘what is around the corner’, should you have assets in the UK or possibly plan to return there in later life, we strongly recommend you create and submit such applications whilst still in reasonable health and capable of entering into such arrangements.
For further information & assistance in completing applications please contact Maplebrook Services on 99 147650 or 26 600780, email info@maplebrookservices.com or visit our new office on the Kissonerga coastal road, next to House of Paws & a few doors away from Greenwoods Butchers & Paphos Computers. Alternatively please fill out the contact form below and we will be in touch with you promptly.