The Lasting Power of Attorney (LPA) is my last major action I took as part of my retirement planning. This completes a series of actions I did for a peace of mind, as I get older.
I had drawn up my Will, applied for Advance Medical Directive (AMD), made my nominations for my insurance polices, and made nomination for my CPF money. LPA is the last.
With the Lasting Power of Attorney (LPA), I know that should I be mentally incapacitated or suffers from dementia, I will rely on my wife to take care of my personal affairs with regard to personal welfare (including medical treatments) and property & affairs matters.
It is important to pick the right person whom you can trust to look into your affairs.
Application for the LPA took considerable time. I started it from 26 December 2018 and I got the LPA registered on 21 February 2019. I only received the notification of successful registration today (8 March 2019). It was about 2 months for all the due processes to be satisfactorily completed.
Please note that the fee for LPA Form 1 applications of $75 was waived until 31 August 2020 for Singapore Citizens.
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