Planning for the future isn’t just about making a will – it’s also about ensuring that your financials, health, and personal affairs are managed by someone you trust if you’re ever unable to make decisions yourself. A Lasting Power of Attorney (LPA) is a legal document that grants this authority, offering security and peace of mind.
At Dudden Law, we help individuals and families protect their interests by setting up LPAs tailored to their needs. Whether you’re planning for old age or simply preparing for unexpected circumstances, an LPA is an essential safeguard.
What Is a Lasting Power of Attorney?
A Lasting Power of Attorney (LPA) is a legal document that allows you (the ‘donor’) to appoint one or more trusted individuals (your ‘attorneys’) to manage your affairs if you lose the ability to do so yourself. This could happen due to illness, an accident, or cognitive decline. Without an LPA, your loved ones may have to go through a lengthy and costly legal process to gain decision-making authority.
There are two types of LPA in England and Wales:
Property and Financial Affairs LPA: This allows your attorney(s) to handle financial matters such as paying bills, managing bank accounts, collecting pensions, or even selling property on your behalf. You can specify whether this takes effect only if you lose mental capacity or if you want assistance sooner.
Health and Welfare LPA: This covers decisions about your medical care, living arrangements, and daily welfare. Unlike the financial LPA, this only takes effect if you are unable to make decisions yourself. You can also grant your attorney the authority to accept or refuse life-sustaining treatment on your behalf.
Both types of LPA must be registered with the Office of the Public Guardian (OPG) before they can be used.
Why Is a Lasting Power of Attorney so important?
An LPA provides clarity and control over your future, ensuring that the people you trust can act in your best interests. Here are some key reasons why having an LPA in place is essential:
Avoiding legal delays and costs
Many people assume that their spouse or children can automatically step in to manage their affairs if they become incapacitated – but this isn’t the case. Without an LPA, your loved ones may have to apply to the Court of Protection for a deputyship order, which is a time-consuming and expensive process. This could delay crucial decisions about your care or finances at a time when urgent action is needed.
Ensuring your wishes are respected
If you were in a serious accident or developed dementia, would you want someone you trust to make decisions about your care? Without a Health and Welfare LPA, those decisions would be made by doctors or social services, who may not know your preferences. With an LPA, you can ensure that your chosen attorney makes the choices that align with your values and wishes.
Protecting business interests
For business owners, an LPA can be crucial. If you were unable to manage your business due to illness or an accident, who would ensure continuity? A Business LPA allows a trusted partner or colleague to make financial and operational decisions, preventing disruption and ensuring stability.
Reducing stress for loved ones
In difficult times, family members are already under emotional strain. Having an LPA in place removes additional burdens, allowing them to act quickly and decisively rather than struggling with legal roadblocks.
Don’t leave it too late
A Lasting Power of Attorney is a vital part of future planning, yet many people delay setting one up. The key thing to remember is that an LPA can only be created while you have mental capacity. Once that’s lost, it’s too late to put one in place, and your loved ones may have to go through lengthy legal battles to gain decision-making authority.
By acting now, you take control of your future and protect those closest to you.
Get expert help today
At Dudden Law, we specialise in helping individuals and families create robust Lasting Powers of Attorney that provide peace of mind and legal protection. Whether you need a financial or health LPA – or both – our expert team is here to ensure the process is smooth and straightforward.
Contact us today to discuss your LPA and secure your future. Call us on 02921 320 150 or contact Carrieanne, our Client Manager, directly at cgreenway@duddenlaw.co.uk to arrange a consultation.
Written by
Carrieanne Greenway
Client Manager
