The Importance of Lasting Power of Attorney in Singapore
In Singapore, the Lasting Power of Attorney (LPA) is a crucial legal instrument that empowers individuals to proactively safeguard their future. It is a deed that allows a person, known as the ‘Donor’, to appoint one or more ‘Donees’ to make decisions on their behalf should they lose mental capacity due to unforeseen circumstances such as illness or injury.
Why is an LPA Essential?
Personal Choice and Autonomy: An LPA enables individuals to make a personal and considered choice of a trusted proxy decision maker. This ensures that someone reliable and competent is acting in their best interests, reflecting their wishes and preferences.
Alleviation of Stress for Loved Ones: Without an LPA, family members may face significant stress and difficulties, including the need to apply for a Deputyship order in court, which can be time-consuming and costly. An LPA alleviates this burden by providing a clear directive on who should take charge in such situations.
Financial and Welfare Decisions: The LPA covers two broad areas: personal welfare and property & affairs matters. This means the Donee(s) can make decisions about the Donor’s healthcare as well as manage their financial affairs, ensuring comprehensive protection.
Prevention of Legal Complications: In the absence of an LPA, there may be legal challenges and conflicts of interest that arise when determining who should make decisions for an incapacitated individual. An LPA provides clarity and prevents such disputes.
Activating an LPA
The activation of an LPA requires a mental capacity assessment and a formal process to ensure that the Donor has indeed lost the capacity to make decisions. Once activated, the Donee can exercise the authority granted to them, with compliance to legal requirements and proper record-keeping.
Conclusion
The Lasting Power of Attorney stands as a testament to the foresight and care that individuals can exercise over their own lives. It is a declaration of trust and a practical step towards ensuring that one’s affairs are managed according to their wishes, even in the most challenging times. For Singaporeans, it represents a significant measure for personal welfare and estate planning, reflecting the values of autonomy and preparedness that are central to the society.
