Lasting Power of Attorney (LPA) can now be done online. It has been since 14Nov2022. With the convenience through using SINGPASS, there is really no excuse to get this settled.
Just like CPF nomination is part of a financial planning checklist, get it done and put a tick on LPA as well.
The LPA is a legal document which allows a person who is at least 21 years of age (‘Donor‘), to voluntarily appoint one or more persons (‘Donee(s)‘) to make decisions and act on his/her behalf if he/she loses mental capacity one day. A Donee can be appointed to act in the two broad areas of personal welfare and property & affairs matters.
You are also encouraged to make an Advance Care Plan (ACP), and appoint your Donee as your Nominated Healthcare Spokesperson. More information on ACP can be found at AIC Singapore – Agency for Integrated Care.
*This refers to a Singapore solicitor qualified to practise Singapore law in a Singapore law practice.
Extracted from the MSF website, their infographic sums it best in 4 steps which I do not see any need to reinvent the wheel.
Lasting Power of Attorney Form 1 that I did follows the same intents and purposes of my Will done – All to the Wife. My wife is the donee for my LPA.
Yes, I have done up my Will and you should too. In fact, the Will done up is affectionately known by lawyers as the “I love you” Will, which makes me guess it’s some easy template.
But please, your Will, CPF nomination and LPA are 3 distinct and separate matters. They are also parts of a holistic financial plan that includes legacy planning.
You know what I do, let me know how I can be of service.