There was a big jump last year in the number of people appointing guardians to make decisions on their behalf should they lose their mental faculties, after the process was made cheaper and easier.
In all, about 8,360 applications for the Lasting Power of Attorney (LPA) was accepted, an increase of almost 160 per cent over the previous year. About seven out of 10 applications were made by people aged 56 and older.
The LPA is a legal document that lets a person appoint an individual to make key decisions for him when he becomes unable to do so. Anyone who is at least 21 years old can draw up or be named in the LPA.
The changes that made the process easier and more convenient were introduced in late 2014. The basic form used by most applicants was simplified, with less legal and technical jargon, and reduced from 15 pages to eight. The $50 application fee for the form was also waived for citizens.
There is another form for those with larger, more complicated assets and who wish to grant specific authorisation to their appointees. Its $200 fee is not waived. The fee waiver, which started in September 2014, will end on Aug 31 this year. A spokesman for the Ministry of Social and Family Development said it is studying the possibility of extending the waiver.
Thoughts:
- I have yet to sign up for LPA, but it do seem that it is important that someone can help me make decision when I am not able to do so. Is there more information at the nearby CC or can they make the sign up/ talks in my office so that I can find out more?
Thoughts anyone?
Yours,
Something Small Thinking Big
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