Why do I need a Lasting Power of Attorney? 

As we get older, we can run into problems which can affect our ability to make crucial decisions for ourselves. A Lasting Power of Attorney (LPA) is a legal document that gives people you trust the powers to make decisions when you are unable to do so for yourself. This ensures that if you become unable to look after your own affairs, the people who you have appointed will be able to take control and look after your financial and personal needs. LPAs are there to help you at those difficult times.

If you have not set up a Lasting Power of Attorney and become unable to look after your own affairs, your family may have to apply to the Court of Protection to appoint a Deputy. This is very expensive and time-consuming and can easily be avoided by setting up a Lasting Power of Attorney.

There are two kinds of LPA and we recommend you have both:

Property and Financial Affairs

This LPA provides powers for your attorneys to handle your financial affairs. It could be useful, for instance, if you are in hospital, or you feel unable to handle financial matters. Your attorneys will be able to withdraw cash, pay bills and make financial decisions for you.

Health and Welfare

The other type of LPA provides powers relating to your health and welfare. This comes into effect in the unfortunate event that you lose your mental capacity to make decisions for yourself. For example, this could be as a result of dementia, which sadly affects 1 in 14 people over 65 and 1 in 6 people over 80.

Putting in place a Health and Welfare LPA will provide peace of mind in knowing that your appointed loved ones can make critical decisions about your health and welfare if you’re unable to. For instance, they could help set up care in your own home, potentially avoiding the need for a care home.

LPAs were introduced under the Mental Capacity Act of 2005 and replaced EPAs (enduring powers of attorney). EPAs only covered property and finance. If you already have an EPA, therefore, it is advisable to have one for your health and welfare too.