Most of us are happy to take out insurance. We insure our homes, our cars, even our holidays. Why? Because if something goes wrong, we want to know we’re protected. A Lasting Power of Attorney (LPA) works in the same way. You may never need it, but if you do, it can make all the difference to you and your loved ones.
You must remember that you can only make an LPA while you still have mental capacity. If illness, accident, or age takes that away, it’s too late. Just like with insurance, you don’t wait until the disaster has happened before putting cover in place.
What is a Lasting Powers of Attorney?
A lasting Powers of Attorney (often abbreviated to an LPA) is a legal document that lets you choose one or more people you trust to make decisions for you if, one day, you can’t make them yourself. There are two types and you should think of them as two separate insurance policies: one for your finances, one for your wellbeing. Together, they give you complete protection.
Property and Financial Affairs LPA
A Property and Financial Affairs LPA covers money matters like paying bills, managing bank accounts, pensions, and even selling your home if necessary.
Health and Welfare LPA
A Health and Welfare LPA covers personal matters like where you live, your daily care, and medical treatment, including life-sustaining treatment.
5 Benefits of a Lasting Power of Attorney
Whilst a Will can protect your family after you have passed, what about protecting yourself and your family should you find yourself unable to care for your own matters? In this blog by Liz Fyfe, she outlines five key benefits of having a lasting Powers of Attorney in place. Read more…
Why do Lasting Powers of Attorney Matter?
Without an LPA in place, your family doesn’t automatically have the right to step in and help if you lose capacity. Instead, they may need to apply to the Court of Protection – a process that can be long, stressful, and expensive.
By setting up LPAs in advance, you:
- Choose who makes decisions for you, rather than leaving it to the courts.
- Save your family unnecessary stress and costs.
- Have peace of mind that everything is taken care of.
Why are Both Types of LPA Important?
Many people arrange a Property and Financial Affairs LPA but overlook the Health and Welfare LPA. But health decisions are often the hardest and most emotional ones. By having both, you know you’re fully protected for your money and your care.
You may never need to rely on your LPAs, just like you may never claim on your home insurance. But if you do, you’ll be so glad they’re there.
Setting them up now is one way of avoiding extra stress and making things easier for your family and loved ones should you become incapable of managing matters for yourself at any stage in the future.
Find out more about the Six Big Questions Commonly Asked on Mental Capacity and Powers of Attorney in this article by Liz Fyfe. Read more…
Contact our Wills and Probate Solicitors in Yorkshire
If you would like to know more about Lasting Powers of Attorney or perhaps you’d like to book an appointment please get in touch and our skilled and experienced Lasting Powers of Attorney solicitors will guide you through the process.
Speak to our expert Lasting Powers of Attorney solicitors in Wakefield, Ossett, Garforth, and Sherburn in Elmet, Yorkshire today by calling 01924 290 029 or ask a question using our online enquiry form.
Lasting Powers of Attorney FAQs
An attorney can be anyone who is aged 18 or over. Usually the chosen attorney will be a spouse, a partner, a family member or a close friend. Some people choose to nominate a professional attorney, who could be a solicitor, an accountant or other relevant professional, giving you the benefit of their skills and judgement and impartiality.
It’s important to know that an attorney cannot be bankrupt if they are appointed as an attorney for property and financial affairs.
Losing mental capacity means a person can no longer make their own decisions because they are unable to understand, remember, weigh up, or communicate information related to that decision. This can be a result of conditions like severe dementia, a brain injury, or a stroke, and it means a person is legally unable to make choices about their finances, health, or welfare. Without a Lasting Powers of Attorney (LPA), a court must appoint a deputy, a process that is costly and removes the individual’s ability to choose who will make decisions on their behalf.
To create a Lasting Power of Attorney, you will need to:
• Choose an attorney or attorneys to act for you
• Fill out the appropriate form (or have your solicitor do this for you)
• Register the LPA with the Office of the Public Guardian
Creating an LPA can take up to around 3 months and it is strongly recommended to have an experienced solicitor help you with the process to ensure all of the relevant issues are correctly considered and accounted for.
A Property and Financial Affairs LPA allows someone you trust to manage your money, property, and financial matters, such as paying bills or selling your home. A Health and Welfare LPA lets them make decisions about your medical care, living arrangements, and daily routine, but only if you lose mental capacity.
Sherburn Office
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Ossett Office
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