Knowledge Highlights 25 November 2024
Covid-19 and the lasting power of attorney: How can it help you in these uncertain times?
The Covid-19 pandemic has undeniably transformed the way we conduct our lives. Full and/or semi lockdowns are in place in many countries, with governments warning that this may well be the “new normal” for some time to come.
Naturally, these restrictions in movement have significantly affected our day-to-day living. This is especially so for the elderly and vulnerable, who have been advised to remain homebound due to their heightened susceptibility to the virus. However, cut off from the online world, many may not have access to resources that would assist them in carrying out certain essential tasks. For example, if bank accounts need to be managed, how can this be done if they are not able to leave their homes? Would a trusted family member living in a separate household be able to carry out these tasks on their behalves?
It is in this context that many consider the applicability of a lasting power of attorney (“LPA”). After all, uncertain times naturally give rise to more serious thought on matters pertaining to one’s welfare and estate planning. Further, in times such as these where movement is restricted, having an LPA in place does assist in ensuring that the welfare of the LPA’s donor can continue to be well taken care of.
That said, can an LPA truly assist in all circumstances? And if an LPA has yet to be executed, can it be done during these “circuit breaker” times? In this article, we provide a general overview of the LPA as well as venture responses to some of the questions raised above.
To read the article, please click here.
Further information
Allen & Gledhill has a Covid-19 Resource Centre on our website www.allenandgledhill.com that contains knowhow and materials on legal and regulatory aspects of the Covid-19 crisis.
In addition, we have a cross-disciplinary Covid-19 Legal Task Force consisting of Partners across various practice areas to provide rapid assistance. Should you have any queries, please do not hesitate to get in touch with us at covid19taskforce@allenandgledhill.com.
