Why do I need a Lasting Power of Attorney (LPA)?

Recent research suggests that 78% of adults in the UK do have a registered Lasting Power of Attorney in place.

The main reasons for not putting them in place are:

• I don’t think I need one
• I am too young to have an Lasting Power of Attorney 
• I don’t need to worry about it until I get older and start to lose capacity

Lets cover these in turn….

I don’t think I need an Lasting Power of Attorney 

A Lasting Power of Attorney (LPA)  is an incredibly powerful legal document to have in place and it is strongly advised that all adults in the UK have these in place.

They give one or more people you trust the legal authority to help you make decisions on your behalf in circumstances where you lose capacity, either temporarily for example, due to a accident or illness or longer term, for example dementia or a brain injury.

Without LPAs in place, if you were to lose capacity, your loved ones would not be able to deal with your finances or make decisions regarding your health. It is important to note that no one has an automatic legal authority to manage your affairs for you. We often find that when people are married, they believe their spouse has an automatic right to make decisions for them. This is NOT true. The only way to ensure they can make decisions for you legally, is to have LPAs in place .

I am too young to have an Lasting Power of Attorney

No matter your age you should have LPAs in place as anyone can lose capacity at any point, even if temporarily.

If you did not have an Lasting Power of Attorney in place, your loved ones would need to go through the court of protection to obtain authority to make decisions on your behalf. Not only can this process take countless months, but it is costly and stressful for loved ones.

I don’t need to worry about it until I get older and start to lose capacity

For the reasons mentioned above, EVERY adult should have LPAs in place no matter their age.

It is also worth mentioning that you can only put a Lasting Power of Attorney in place whilst you still have mental capacity. If you were to lose mental capacity, they are no longer available and your loved ones would need to apply to the court of protection for authority.

How can Charlton Baker help you?

We can create your Lasting Power of Attorney. Read more about our services here. 

Here at Charlton Baker we are also qualified Will writers. Please check out our Will Writing Services page.

We are also qualified to apply for Probate, meaning you would not need to instruct a solicitor.

We have been acting as professional executors for our clients for many years and have a wealth of experience in this area. Please do get in touch to discuss further.

Other topics you might find intersting:
Why do I need a Will?
Characteristics of a valid Will
How often should I reveiw my Will?
How do I choose an executor for my Will?
What is Probate and how does it work?
What happens to limited company shares on the death of a shareholder?