A Lasting Power of Attorney (LPA) is an important legal document that allows you to appoint someone you trust to make certain decisions on your behalf should you lose the capacity to make those decisions for yourself.
There are two main types of LPA:
- An LPA for Property and Financial Affairs. This allows the nominated person, or people (known as attorneys) to take care of your financial assets. A Property and Financial Affairs LPA can cover tasks such as managing your bank accounts, paying bills, collecting benefits or a pension, or selling or purchasing property, such as your home.
- An LPA for Health and Welfare. This allows your attorney to make decisions about your day-to-day welfare. A Health and Welfare LPA can cover decisions about your medical care, your daily routine (including washing and eating), moving into a care home and life-sustaining treatment.
An LPA can also be used if you require someone to assist you temporarily with looking after specific financial affairs, such as if you are in hospital and need help paying bills.
Find out more about the different types of Lasting Power of Attorney here.
Who can make an LPA?
Anyone over the age of 18 who has mental capacity can make an LPA. Making an LPA does not mean you need to use it. Rather, it is a valuable safeguard by acting as an important insurance policy should there come a time when you need it.
However, despite the important function that LPAs perform, a significant portion of the UK’s adult population do not have one in place. Latest figures from asset management company Canada Life found that 78% of UK adults have not registered an LPA, and 77% of the over 55s have not registered either type of LPA.
By taking charge now and creating a Lasting Power of Attorney while you can, you will ensure you have someone you trust and that you have chosen yourself to make decisions on your behalf should you lose capacity.
For specialist advice about making a Lasting Power of Attorney, please get in touch with our team to discuss the next steps. Our friendly and accessible team of Power of Attorney solicitors can guide you through the entire process, including registration with the Office of the Public Guardian (OPG).
To speak to one of our experienced LPA solicitors in Uxbridge or Cumbria, please call 0330 175 5655 or email info@bglaw.co.uk.
What are the benefits of an LPA?
Making an LPA has many benefits for both you and your loved ones. Here, our experienced Lasting Powers of Attorney solicitors consider some of the main reasons you should make an LPA.
1. Protection. LPAs act as valuable insurance policy against any unforeseen future illnesses or events that may mean you lose capacity and can’t make certain decisions yourself.
Some people put off making an LPA as they think that LPAs are only relevant to older people.
This is not the case. Capacity can be lost for various reasons, not just through dementia or old age. An accident, illness, or mental health problems may mean you lose capacity on a short-term or permanent basis.
Ensuring you have an LPA in place, even when you are in good health, reassures you that if you subsequently suffer an injury or illness that results in you losing capacity, you will be looked after by someone that you choose.
2. Control. Having an LPA in place means that you get to decide who will look after your affairs. By delegating decision-making powers to someone of your choosing, you retain control over the process.
An attorney should be someone you trust. Most people choose a family member or friend, although you can appoint a professional, such as a lawyer or solicitor.
You can appoint a single attorney or several attorneys. If you appoint more than one attorney, you must specify whether they should act jointly or jointly and severally. If you decide you want them to act jointly, this means all attorneys must act together on every decision and must agree with any proposed actions for it to happen.
Attorneys that are appointed jointly and severally can make decisions on their own or with other attorneys.
You can also give instructions that some decisions should be made ‘jointly’ and others ‘jointly and severally’.
3. Avoids issues later. Many people assume that they will automatically be able to make decisions on their loved one’s behalf and receive the authority to manage their finances if they are unable to do so themselves. However, this is not the case.
If you lose capacity without an LPA in place, your loved ones might have to apply to the Court of Protection for the appointment of a deputy to handle your financial matters. This can prove stressful, time-consuming and costly. Moreover, there is no guarantee that the individual appointed will be the person you would have chosen.
Solicitors for LPA
Making an LPA may seem daunting. Our highly skilled specialists at Berlad Graham LLP will make things easier to understand, guiding you through each step of the legal process involved.
Our Lasting Power of Attorney solicitors can assess what information is required, consider your circumstances, and ensure the Lasting Power of Attorney is fully comprehensive so that your wishes are effectively carried out and no stone is left unturned.
Berlad Graham LLP has multiple accreditations ensuring the highest standards are delivered to our clients. Our reputation, compliance and risk culture are extremely important to us, as it ensures that we provide a transparent, trustworthy and high-quality service.
We can also provide specialist advice regarding the following:
- Court of Protection and Deputyship applications.
- Protecting vulnerable clients.
- Lasting Power of Attorney and Deputyship Disputes.
- Wills and Estate Planning.
- Estate Administration.
- Wills and Probate Disputes.
We are here to support you. Call our team today on 0330 175 5655 or email info@bglaw.co.uk and let us help protect your future.
