The Importance of an Enduring Power of Attorney

A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint somebody (donee) that you trust to make decisions about your financial and personal well-being when you are not in a position to make them for yourself. It is important that you grant Power of Attorney to somebody you trust as you do not want them making decisions that are not necessarily in your best interests. In Singapore, the donee must be 21 years old or above and of sound mental capacity. You can also appoint more than one donee.

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Why is Power of Attorney so Important?

Power of Attorney is a vital legal document that ensures that we can trust that the decisions being made for us are being made by somebody who has our interests at the front of their mind.

Power of Attorney - Jarrad BRown

The importance becomes greater as we get older and the likelihood of developing mental illnesses becomes higher. It becomes very important that we make the decision of who we wish to be making decisions for us rather than somebody else deciding who this should be. With the population living longer and life expectancies increasing globally, this legal document becomes more and more important.

There are some key considerations particularly for deciding who to appoint as your Donee. These include where your Donee lives and if they would have to relocate to look after you and if you would like to have a replacement Donee should anything happen to the first. Given the importance of this document, it is important you consult a professional to assist you in preparation.

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