The Importance of a Lasting Power of Attorney (LPA)

Kelly Dawkins, Chartered Legal Executive & Probate Practitioner – Wills and Probate

Most people have heard of a Lasting Power of Attorney but there are misconceptions around when and who they can be put in place for. Kelly Dawkins, Chartered Legal Executive & Probate Practitioner – Wills and Probate, at TMT Legal Services, explains the benefits of having an LPA in place at the earliest opportunity.

A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint someone you trust (attorney) to make decisions on your behalf if you lose the ability to make them yourself due to illness, accident, or other factors. You can choose to have multiple attorneys and decide whether they should act jointly (meaning they must agree on every decision together) or jointly and severally (meaning they can act together or separately). It gives you control over who makes decisions about your health and welfare and/or your property and financial affairs.

A common misconception is that you lose access to your financial accounts once a finance LPA is registered, which is not the case. A finance LPA can only be used with your consent, or on loss of capacity. It is also worth noting that an LPA cannot be created once mental capacity has been lost so it is important to put one in place sooner rather than later.

Property and Financial Affairs LPA. Under the LPA for Property & Financial Affairs, while you can make your own decisions, you can ask your attorneys to assist you with your financial matters, for example, signing documents for you or going into the bank on your behalf. 

Health & Welfare LPA. Your attorneys would only be able to act if you were unable to make decisions yourself.  The decisions could be things such as your daily routine for example washing, dressing and eating, medical care and where you live. You can also authorise your attorneys to make decisions about life sustaining treatment.

Simplifying the process for your family. If you lose mental capacity to make your own decisions without an LPA in place, your loved ones will have to apply for a Deputyship Order from the Court of Protection (Court Appointed Deputy). This is a significantly more costly and complicated application than making LPAs at an already difficult time.

An LPA provides peace of mind. An LPA gives you peace of mind that someone you know, and importantly trust, oversees your affairs and ensures that your wishes are followed. If you lose mental capacity without an LPA, it can cost your family time and thousands of pounds to be given permission to handle your affairs.

Protecting your finances and property.

If you are the primary earner and you became incapacitated, it is likely that your family or friends would need urgent access to your bank accounts to ensure essential bills continue to be paid. An LPA protects your loved ones from entering a legal limbo where they cannot make these crucial decisions.

Think of LPAs as an insurance policy, just like home or motor insurance. Once you have made LPAs and the documents have been registered, you can simply file them away and enjoy the peace of mind that comes with knowing that if anything should happen, they are in place to make things easier. After all, we look after our cars, homes and travel in case the ‘worst’ should happen, so why not our ability to make decisions?

At TMT Legal Services, we approach planning for your LPA with understanding, compassion and sensitivity. Our teams in Hythe, Chandler’s Ford, Southampton and Horsham provide clear and straightforward advice. We'll help you create an LPA that's perfectly tailored to your specific needs, ensuring it's correctly registered and giving you and your family peace of mind.

Contact our friendly Client Services team at TMT Legal Services today to see how we can help you or to book a mutually convenient appointment with one of our Lasting Power of Attorney Specialists.