An LPA is a legal document that allows the account holder (the 'donor') to give one or more people (attorneys) the power to act on their behalf, continuing into, or only at such a time that they are no longer able to make decisions.
There are two types of LPA:
- A property and financial affairs LPA, and
- A health and welfare LPA.
To help someone manage their account with Nationwide, you would need to have a property and financial affairs LPA in place.
The donor must have the mental capacity to make their own decisions when the LPA is set up, and can continue to manage their money either independently, or alongside the attorney, until such time that mental capacity is lost.