Do I Need a Lasting Power of Attorney?

Short answer: if you want to stay in control of who makes decisions for you if you lose capacity, a Lasting Power of Attorney could be essential.

Many people put off thinking about what would happen if they became unable to manage their own affairs. It can feel like something to worry about later, but putting a Lasting Power of Attorney (LPA) in place is one of the simplest ways to protect yourself and support those closest to you.

What is a Lasting Power of Attorney?

A Lasting Power of Attorney is a legal document that allows you to appoint someone you trust to make decisions on your behalf if you are no longer able to make them yourself.

The person you appoint is known as your attorney. They can step in when needed and help manage important decisions according to your wishes.

An LPA can only be made while you still have the mental capacity to understand and agree to the decisions being made. This is why planning ahead is so important.

Why do people put LPAs in place?

Many people assume that if something happens to them, their partner or children will automatically be able to step in and deal with their finances or make decisions for them.

Unfortunately, this is not always the case.

Without the correct legal authority in place, even those closest to you may face difficulties accessing accounts, managing finances, or making important decisions on your behalf.

What happens if you don’t have an LPA?

If you lose mental capacity without having an LPA in place:

• your family may not be able to access your bank accounts or manage your finances easily
• important decisions may be delayed
• your loved ones may need to apply to the Court of Protection for authority to act for you
• the process can be stressful, time-consuming, and costly

At a time when your family may already be facing an emotional challenge, an LPA can help avoid unnecessary complications.

When should you put an LPA in place?

There is no requirement to wait until you are older or unwell before making an LPA.

Many people choose to put LPAs in place:

• earlier in life as part of general planning
• alongside making or updating their will
• when they begin owning property or building savings
• when they want reassurance that someone they trust can help if needed

Planning ahead gives you the opportunity to decide who you would like to act for you, rather than leaving those decisions to be made later.

Who should consider making an LPA?

An LPA can be valuable for many people, but you should consider putting one in place if you:

• own property
• have savings, investments, or other financial interests
• have family members who may need to support you in the future
• want to make things easier for your loved ones
• want control over who can make decisions on your behalf

Having an LPA is not about expecting the worst. It is about preparing for the unexpected and ensuring your wishes are respected.

What decisions can an LPA cover?

There are two different types of Lasting Power of Attorney.

Property and Financial Affairs LPA

This allows your attorney to help with decisions such as:

• managing your bank accounts
• paying bills
• dealing with property
• managing investments and other financial matters

Health and Welfare LPA

This covers decisions about your personal wellbeing, including:

• medical treatment
• care arrangements
• where you live
• day-to-day welfare decisions

You can choose to make one type of LPA or both, depending on your circumstances and preferences.

How can Attwells help?

Making an LPA is an important step, but the process does not need to be complicated.

At Attwells, we provide clear advice and practical support to help you put the right arrangements in place. We can guide you through your options, prepare your documents, and help ensure your LPA is completed correctly and registered when required.

Taking action now can give you and your family valuable peace of mind for the future.

If you are unsure whether a Lasting Power of Attorney is right for you, our team can talk through your circumstances and explain your options.

Find out more about Lasting Powers of Attorney or contact Attwells today to request a quote.