Life can be unpredictable. While we hope for the best, unforeseen events; such as accidents, illnesses, or age-related conditions can impact our ability to make decisions. A Lasting Power of Attorney (LPA) ensures that someone you trust can manage your affairs if you’re unable to do so. It is a case of ‘putting a plan’ in place!
What Is a Lasting Power of Attorney?
An LPA is a legal document that allows you to appoint someone as your ‘Attorney’ to help you make decisions for you or on your behalf. There are two types of LPAs:
- Property and Financial: This document provides the right for your attorneys to make decisions in relation to your property and finances. It can be used, with your permission, whilst you still have mental capacity, or afterwards.
- Health and Welfare: This document can only be used once you have lost mental capacity and allows your Attorney to deal with decisions in relation to your personal welfare and medical decisions.
Why Should You Consider an LPA?
- Maintain Control Over Your Decisions
By having a registered LPA in place, you choose who will make decisions on your behalf if something happens, such as an illness or accident and you are unable to make decisions for yourself.
- Prevent Delays and Legal Complications
If you lose mental capacity and do not have an LPA in place, someone wishing to act on your behalf will need to apply to the Court of Protection to be appointed as your Deputy. Your Deputy will then be able to make decisions on your behalf. This can be a lengthy and expensive Court process. You also do not get to choose who you want your Deputy to be.
- Ensure Your Wishes Are Respected
An LPA lets you specify your preferences regarding medical treatments, care, and financial matters, ensuring that your values are upheld even if you’re unable to communicate them.
- Provide Peace of Mind
Having a LPA in place and knowing that someone you trust has the legal authority to act on your behalf can provide peace of mind about the future.
- Adapt to Changing Circumstances
LPAs are flexible; Provided you have the mental capacity, you can revoke them if they are just not working for you, or remove an attorney if you no longer wish for them to act.
How Ellisons Can Assist You
At Ellisons, we understand that making a Lasting Power of Attorney can be a daunting task. Our experienced Wills, Trusts and Probate team can guide you through the process of setting up an LPA. We provide expert guidance to help you understand the implications and benefits of an LPA and ongoing support. Contact us to discuss how we can help you plan for the future with confidence.
