Do you need a lasting power of attorney?

Lasting powers of attorney (LPAs) allow you to appoint one or more people as your attorney(s) to look after your affairs, in the event you are no longer able. 

There are two types of LPA. A property and financial affairs LPA allows attorneys to manage for example, your bank accounts, pay utility bills and deal with any pensions just as you would. A health and welfare LPA allows attorneys to make decisions regarding your healthcare, such as your medical treatment and care.

Once your LPAs have been registered with the court, a property and financial affairs LPA can be used straight away, whereas, a health and welfare LPA can only be used if you have lost mental capacity.

Unfortunately, if you lose mental capacity and you do not have LPAs in place, then your loved ones will be left with no choice but to apply to the Court of Protection for a deputy to be appointed to manage your affairs. This is a longer and more expensive process than making LPAs and you will lose the opportunity to choose who will manage your affairs. Ensuring LPAs are in place before you lose capacity will give your loved ones peace of mind, knowing that your affairs can be dealt with immediately, without the hassle of applying to the court in what could be a time sensitive matter.

The Wills, Trusts and Probate team can advise on preparing and registering LPAs, so please do not hesitate to contact us.