Most people understand the importance of writing a will, but far fewer realise that a Lasting Power of Attorney (LPA) may be just as important.
A will only takes effect after you die. A Lasting Power of Attorney protects you while you’re still alive if you become unable to make decisions for yourself.
Whether due to illness, an accident, dementia, or a stroke, losing mental capacity can happen unexpectedly. Having an LPA in place ensures that someone you trust can step in and help manage your affairs when you need it most.
What Is a Lasting Power of Attorney?
A Lasting Power of Attorney is a legal document that allows you to appoint one or more people, known as attorneys, to make decisions on your behalf if you lose the ability to make those decisions yourself.
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Request Your Free Estate Planning ReviewYou must set up an LPA while you still have mental capacity.
Without one, your loved ones may not have the legal authority to help with important decisions regarding your finances, health, or welfare.
The Two Types of Lasting Power of Attorney
There are two separate types of LPA in England and Wales.
Property and Financial Affairs LPA
This allows your chosen attorney to help manage:
- Bank accounts
- Paying bills
- Managing investments
- Collecting pensions
- Buying or selling property
- Handling financial matters
This type of LPA can be used with your permission while you still have capacity or if you later lose capacity.
Health and Welfare LPA
This allows your attorney to make decisions about:
- Medical treatment
- Care arrangements
- Daily living needs
- Moving into a care home
- Life-sustaining treatment decisions (if authorised)
This LPA can only be used if you lose mental capacity.
What Happens If You Don't Have an LPA?
Many people assume that their spouse, children, or family members can automatically make decisions for them if something happens.
Unfortunately, this is not always the case.
Without a Lasting Power of Attorney:
- Your family may be unable to access your bank accounts
- Bills may go unpaid
- Property transactions could be delayed
- Important healthcare decisions may become more complicated
- Loved ones may need to apply to the Court of Protection
This process can be expensive, time-consuming, and stressful during an already difficult period.
Who Should Have a Lasting Power of Attorney?
The simple answer is everyone over the age of 18.
While many people associate LPAs with older age, accidents and serious illnesses can happen at any stage of life.
Creating an LPA is not about expecting the worst. It’s about being prepared and ensuring your wishes are respected if the unexpected happens.
Choosing the Right Attorney
Your attorney should be someone you trust completely.
This could be:
- A spouse or partner
- An adult child
- A close friend
- A trusted relative
- A professional adviser
The person you choose should be responsible, reliable, and willing to act in your best interests.
Common Myths About Lasting Power of Attorney
“I’m too young to need one.”
Loss of capacity can occur at any age due to illness or injury.
“My family can automatically make decisions for me.”
In many situations, they cannot without legal authority.
“I already have a will.”
A will only applies after death. An LPA protects you during your lifetime.
“I’ll sort it out later.”
Many people leave it too late and lose capacity before an LPA is completed.
How Later Living Help Line Can Help
At Later Living Help Line, we help individuals and families understand the importance of Lasting Powers of Attorney and the role they play in protecting your future.
Taking action today can prevent unnecessary stress, delays, and complications for your loved ones tomorrow.
Conclusion
A Lasting Power of Attorney is one of the most important legal documents you can put in place. It gives you control over who makes decisions on your behalf and ensures your wishes are respected if you become unable to make decisions yourself.
Don’t wait for a crisis to happen. Planning ahead today could make all the difference tomorrow.
