Lasting Power of Attorney

Control your future decisions

A lasting power of attorney (LPA) allows you to appoint someone you trust to make important decisions on your behalf if you are ever unable to do so.  It is a legal document that ensures your chosen attorney has the authority to handle your affairs, guided by your instructions.

There are a number of reasons why you may need someone to make decisions on your behalf.  It may be a temporary measure, if you are going into hospital and need help with everyday financial tasks.  Or it may be part of long-term planning, for example, if you have been diagnosed with dementia and want to plan ahead in case you lose the mental capacity to make your own decisions in the future.

Why do you need an LPA?

Lasting power of attorney can help everyone plan for the future in case of accidents and illnesses such as the unfortunate incidence of your mental capacity being impaired.  Having a power of attorney set up will make things much easier if this happens, so it is worth considering now.  Parents with children should also make a lasting power of attorney to ensure their offspring are looked after in the way they want in case they can’t look after themselves.

If you do not have an LPA in place and you become unable to deal with your affairs, then a relative or other appropriate representative would have to make an application to the Court of Protection to be appointed to make decisions on your behalf.  This can be a costly and time-consuming process and means that you have no control over who is appointed or what decisions they can make.

Setting up a Lasting Power of Attorney

While you don’t have to use a financial adviser to create a lasting power of attorney, it will prevent problems later on, especially if you are unsure of the process or your affairs are complex.  You must be 18 or over and have mental capacity (the ability to make our own decisions) when you make your Lasting Power of Attorney.

Your chosen attorney should be someone you are close to and who will make decisions in your best interests, such as a family member or friend.  It is also important that you give the person you ask to be your attorney time to think about the role and responsibilities, to make sure they feel comfortable doing it.  The process of setting up a lasting power of attorney includes:

• Choosing your attorney
• Filling in the lasting power of attorney forms to appoint them as an attorney
• Registering your lasting power of attorney with the Office of the Public Guardian (this will take 8 to 10 weeks if there are no mistakes in the application and costs £82).

Please note that the process and terminology differ in Scotland.  In Scotland, the document is called a continuing and welfare power of attorney.

How we can help

If you are considering granting a Lasting Power of Attorney, the first step is to speak with an adviser.  At David Allen, we have helped thousands of people make LPAs.  We will provide specialist advice tailored to your specific needs and make sure your estate and welfare is protected for the future.  Contact our helpful and friendly team today to discuss the best route suited to your circumstances.