Chartered Institute for Securities and Investment (CISI) Level 3 Practice Exam

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What needs to be done in order to be able to use a LPA (lasting power of attorney)?

Only completed forms are needed and no registration

The donor must be deceased

The LPA must be registered with the office of the Public Guardian and a stamped copy of the LPA is then submitted to financial institutions to show that the attorney has the authority to act on behalf of the donor

The key idea is that an LPA only becomes usable after formal registration. Once you register the LPA with the Office of the Public Guardian, the attorney’s authority is official, and you can then supply a stamped copy to banks or other financial institutions to prove you can act on the donor’s behalf. Without this registration, the LPA cannot be used, even if the forms are completed. It isn’t registered with a court, andLPAs are intended to be used while the donor is still alive (they’re invalid after death). Keeping the donor’s capacity at the time of creating the LPA is also important, but the critical step to enable use is the registration with the Public Guardian and presenting a stamped copy to institutions.

The LPA must be registered with a court