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AF1 - Tax Planning > Power of Attorney > Flashcards

Flashcards in Power of Attorney Deck (17)
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1
Q

What would cause a PoA to be revoked? (4)

A
  • Revoked by donor
  • Bankruptcy of donor
  • Donor loses capacity
  • Death of donor
2
Q

What are the 2 types of LPA

A
  • Financial Decisions

- Health & Care - can only be used once donor has lost mental capacity

3
Q

When does a LPA become effective?

A
  • Once registered with OPG
4
Q

What is the process for setting up a LPA (3)

A
  • Complete prescribed form
  • Witnessed by independent person
  • 3 week period for people to object
5
Q

Who signs the LPA when being set up (3)

A
  • Donor
  • Attorney
  • Certificate provider - to confirm there’s been no fraud/pressure
6
Q

What are the benefits of having an LPA (2)

A
  • Advance planning of who makes decisions in event of incapacity
  • Otherwise deputy appointed by COP
7
Q

What are an attorney’s responsibilities - KREMCO (6)

A
  • Make decisions in donor’s interest
  • Consult with donor before making decisions
  • Keep own money separate
  • Respect donor’s confidentiality
  • Ensure no conflict of interest
  • Only make gifts on customary occasions
8
Q

Can new EPA be established?

A

No and no changes can be made after 1st October 2007

9
Q

When does an EPA become valid?

A
  • If donor elects, immediately

- Or once registered with OPG if donor becoming mentally incapacitated

10
Q

Can an EPA still be used once donor mentally incapacitated?

A

Yes, only once registered with OPG

11
Q

Name the 5 key principles of the MCA 2005

A

1) Individual has a right to make own decisions
2) Individual must be supported and given help in making a decision
3) Individual can make unwise decision and not be deemed as lacking capacity
4) Everything done for an individual must be in their interest
5) ‘Least Restrictive option’ must be followed - option that interferes least with rights and freedoms of incapacitated individual

12
Q

5 factors determining mental capacity

A

1) Any condition that affects how the mind works
2) Can they understand they need to make a decisions and what decision to be made
3) Can they understand possible outcomes if they do/don’t make a decision
4) Can they make an informed choice
5) Can they communicate the decision

13
Q

Powers the COP has (5)

A
  • Decide whether someone has mental capacity
  • Make decisions/act for someone who does not
  • Appoint deputies where no LPA/EPA in place
  • Determine whether LPA/EPA valid
  • Remove deputies who fail their duty
14
Q

Duties a deputy has (3)

A
  • Safeguard client assets
  • Liaise with COP
  • Act in line with COP powers
15
Q

Can a deputy make a will?

A

No

16
Q

What functions does the OPG have (4)

A
  • Maintain register of EPA/LPA’s and deputies
  • Supervise deputies
  • Deal with complaints re Attorney’s and deputies
  • Work with others - social services
17
Q

Role of the Independent Mental Capacity Advocate

A
  • Support and represent individual lacking capacity with nobody to speak for them
  • Make decisions re serious medical treatment and long term care