Singapore Lasting Power of Attorney
It is not surprising that many people have thought about making a Lasting Power of Attorney, but procrastinate in getting one done.
Many still do not know where to get help to complete the LPA Form, and/or how to find a Certificate Issuer (medical doctor or practising lawyer) who has to witness the LPA Form.
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A Lasting Power of Attorney will become operative upon your losing of your mental capacity but cease upon death, whilst a Will (or Testament) become operative upon death.
When we least expect it, we may lose our mental capacity through accident, illness or other circumstances. When a person lacks mental capacity (whether on a temporary basis or long term), he will be unable to make decisions for himself, operate his bank accounts, or manage his properties.
There are 2 types of Lasting Power of Attorney. One relates to authority in relation to the donor’s property and financial affairs. This type of Lasting Power of Attorney can allow, for example, the attorney to pay the donor’s bills, sell their property or investments and operate their bank accounts.
