Understanding Lasting Power of Attorney (LPA)

When you hear the term Lasting Power of Attorney (LPA), it’s easy to assume it’s only relevant for the elderly. However, this misconception can leave you and your loved ones vulnerable. The truth is, an LPA is a vital legal safeguard for anyone who owns property, has assets, or simply wants to ensure their health and finances are managed by people they trust should they become unable to make decisions themselves.

What Is a Lasting Power of Attorney?

An LPA is a legal document that allows you to appoint one or more trusted individuals (attorneys) to make decisions on your behalf if you become unable to do so. There are two main types of LPA:

  1. Property and Financial Affairs LPA – Covers decisions about bank accounts, paying bills, managing property, and financial transactions.
  2. Health and Welfare LPA – Covers decisions about medical treatment, living arrangements, and day-to-day care.

Having an LPA in place ensures your affairs are handled according to your wishes, reducing stress for your loved ones during difficult times.

Why LPAs Aren’t Just for the Elderly

Many people associate LPAs with age-related conditions such as dementia, but the reality is that anyone can experience an unexpected illness or accident. Here are just a few scenarios where having an LPA is invaluable:

  • Accidents – A car crash or serious fall could leave you incapacitated.
  • Sudden Illness – Conditions like strokes, brain injuries, or severe infections can affect your ability to make decisions.
  • Mental Health Issues – Mental health conditions can temporarily or permanently impair your decision-making abilities.

Without an LPA, your loved ones may need to go through a lengthy and costly court process to gain the legal authority to act on your behalf.

Who Should Have a Lasting Power of Attorney?

The simple answer: Anyone over 18. However, some groups should seriously consider setting up an LPA:

  • Homeowners – Ensures mortgage payments, insurance, and property maintenance are handled.
  • Parents – Secures your children’s financial and welfare needs if you are incapacitated.
  • Business Owners – Protects business interests by allowing trusted colleagues or family members to take charge.
  • Individuals with Savings or Investments – Ensures financial assets are managed responsibly.

Benefits of Having an LPA in Place

  1. Peace of Mind – Ensures your affairs are managed by trusted individuals.
  2. Avoiding Family Conflict – Prevents disputes over decision-making.
  3. Saving Time & Money – Avoids the need for costly court proceedings.
  4. Maintaining Control – Allows you to dictate how your affairs are handled.

How to Set Up a Lasting Power of Attorney

Setting up an LPA is straightforward, but accuracy is key. Here’s how to start:

  1. Choose Your Attorneys – Select trusted individuals to act on your behalf.
  2. Complete the Forms – Download forms from the official government website or seek legal advice to ensure the forms are completed accurately and you fully understand the decisions you are making.
  3. Register Your LPA – Submit your forms to the Office of the Public Guardian (OPG). Registration can take up to 20 weeks.

Office of the Public Guardian – GOV.UK

Don’t Wait Until It’s Too Late

Life is unpredictable, and none of us know what the future holds. By setting up a Lasting Power of Attorney now, you’re taking a proactive step to protect yourself and your loved ones.

Start the process today and ensure your future is in trusted hands.