A Lasting Power of Attorney (LPA) is an essential legal document that allows you to appoint someone you trust to make decisions on your behalf if you lose the ability to do so yourself. Setting up an LPA early is a wise move that provides peace of mind and protection for the future.
What Is a Lasting Power of Attorney?
There are two types of LPA:
Property and Financial Affairs LPA: Authorises your attorney to manage your finances, pay bills, sell property, and handle your monetary matters.
Health and Welfare LPA: Allows your attorney to make decisions about your healthcare, medical treatment, and living arrangements.
You can create one or both, depending on your needs.
Why Set Up an LPA Early?
Avoid Losing Control
If you lose mental capacity without an LPA in place, your family may have to apply to the Court of Protection to be appointed as deputies—a lengthy, costly, and stressful process. Having an LPA avoids this and ensures your trusted people can act on your behalf immediately after registration.Peace of Mind for You and Your Family
Knowing someone you trust will manage your affairs if you can’t helps reduce worry for everyone involved.Tailored to Your Wishes
Early planning allows you to choose your attorneys carefully, set limits or conditions, and specify your preferences clearly.Avoid Family Disputes
Without an LPA, disagreements about who should manage your affairs can escalate. An LPA provides clear legal authority and helps prevent conflicts.Planning for Unexpected Events
Accidents, sudden illness, or the onset of conditions like dementia can happen at any age. Preparing your LPA early is a smart safeguard.
When Is the Right Time to Create an LPA?
As Soon as You’re Over 18 and Have Capacity
The law requires you to have mental capacity at the time of creating an LPA, so it’s best to do it while you’re healthy.During Major Life Changes
Events such as retirement, divorce, or the birth of grandchildren are good prompts to review or set up an LPA.When You Start Managing Significant Assets or Responsibilities
If you own property, run a business, or have complex financial matters, an LPA helps manage these effectively if you become unable.
What Happens After Setting Up an LPA?
The LPA must be registered with the Office of the Public Guardian (OPG) before it can be used. Registration can take several weeks.
Your attorneys must act in your best interests and follow the principles set out in the Mental Capacity Act 2005.
You can revoke or change your LPA at any time while you have capacity.
Common Misconceptions
“I’m too young to need an LPA.”
Capacity issues can occur unexpectedly at any age.“My family will automatically have the power to make decisions.”
Without an LPA, they do not have legal authority.“Setting up an LPA is complicated and expensive.”
While some costs apply, we can make the process straightforward and tailor it to your needs.
Setting up a Lasting Power of Attorney early is a proactive way to protect yourself and your loved ones. It ensures your preferences are respected, provides legal clarity, and prevents unnecessary stress.
