Lasting Power of Attorney
Why setting up a Lasting Power of Attorney is Essential for Future Planning
Planning for the future isn't just about writing a Will it's also about ensuring that your affairs are managed according to your wishes if you're ever unable to make decisions for yourself. One of the most effective ways to do this is by putting a Lasting Power of Attorney (LPA) in place.
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 people (your ‘attorneys’) to make decisions on your behalf, should you lose the mental capacity to do so in the future due to illness, accident, or age-related conditions.
An LPA ensures that someone you trust has the legal authority to manage your affairs, whether relating to your health and welfare or your property and financial matters.
Why Should I Set Up an LPA?
At Trueman Bailey Law, we strongly recommend setting up an LPA as a vital component of comprehensive estate and incapacity planning. Here are the key reasons why:
Empowered Decision-Making
An LPA gives someone you trust the authority to make crucial decisions on your behalf whether about medical treatment, care arrangements, or financial matters should you lose the ability to do so yourself.Avoiding Lengthy Court Processes
Without an LPA, your loved ones may have to apply to the Court of Protection to gain authority to act on your behalf. This can be time-consuming, costly, and stressful. An LPA avoids this by enabling your chosen attorney(s) to act quickly when needed.Flexibility and Control
You decide who acts as your attorney(s), how they act, and what decisions they can make. You can appoint trusted family members or friends and tailor their powers to your specific needs and preferences.Preparedness for the Unexpected
None of us knows what the future holds. An LPA is a proactive step that ensures your wishes are respected and your affairs are in safe hands if unforeseen circumstances arise.Peace of Mind
Having an LPA in place brings reassurance not just for you, but for your loved ones knowing that there’s a clear plan for how your affairs will be managed if you're unable to make decisions for yourself.
LPA vs. Will – What’s the Difference?
A Will comes into effect only after your death and ensures your estate is distributed in line with your wishes. In contrast, an LPA is active during your lifetime and provides authority for someone to act on your behalf if you become mentally or physically incapacitated. Both are essential, but they serve very different purposes.
The Two Types of LPA
In England and Wales, there are two types of LPA:
1. Property and Financial Affairs LPA
This allows your attorney(s) to manage your financial matters, including:
Managing bank accounts
Paying bills
Handling property transactions
Collecting benefits or income
This type of LPA can take effect from the moment it is registered (with consent of the donor).
2. Health and Welfare LPA
This covers decisions about:
Medical treatment
Daily care (e.g. meals, routines)
Living arrangements
End-of-life care decisions
This type of LPA only takes effect if you lose capacity to make these decisions yourself.
Who Is an Attorney in the Context of an LPA?
An attorney is the person you legally appoint to act on your behalf under an LPA. Their role is to make decisions that are in your best interests, and their authority depends on the type of LPA you establish. Attorneys must:
Act with honesty and integrity
Follow your instructions and preferences where possible
Keep accurate records of decisions and finances
You can appoint a family member, friend, or professional (such as a solicitor) as your attorney.
Should I Appoint More Than One Attorney?
Appointing multiple attorneys can offer additional support, oversight, and flexibility:
Shared Responsibility
Attorneys can share the burden of making significant decisions, reducing pressure on any one individual.Checks and Balances
Multiple attorneys can monitor one another, reducing the risk of mistakes or misuse of authority.Flexible Arrangements
You can choose whether attorneys must act jointly (together) or jointly and severally (independently), depending on what suits your circumstances best.Continuity
If one attorney becomes unavailable, another can step in ensuring there’s always someone able to act on your behalf.
Final Thoughts
Creating a Lasting Power of Attorney is not just a legal formality it’s a responsible and empowering step in planning for your future.
It ensures that your wishes will be upheld, your affairs managed effectively, and your loved ones supported in what can be challenging circumstances.
At Trueman Bailey Law, we’re here to guide you through the process with clarity and compassion, helping you make the decisions that best protect you and those you care about most.