News & Legal Advice

Why is an LPA so important?

Published - Feb 17, 2022

What is a Lasting Power of Attorney (LPA) and why is it so important?

What would happen if you were no longer capable of making the important daily decisions in your own life? If you lost mental capacity, your family would have to apply to the Court of Protection, who would then appoint a deputy to deal with your everyday financial matters.

This is not generally a quick process, and there can be significant costs involved.

An LPA is a legal document in which someone (the Donor) gives another person (the Attorney) the right to help them make decisions or take decisions on their behalf.

There are two types of LPA, for:

• Property and Financial Affairs, which can be made for both personal and business reasons; and

• Health and Welfare

LPA’s let the Donor choose people to look after their affairs if they:

• lose mental capacity; or

• develop, or think they may develop, an illness that may stop them making decisions for themselves, for example dementia or a brain injury

An LPA ensures that, should you be unable to manage your own affairs, the people you have appointed can manage your health, welfare, and financial life on your behalf. This can save a great deal of money and distress, and will ensure that, as a vulnerable person, your affairs will be handled correctly and quickly.

The Donor can make one or both types of LPA. Donors should make an LPA while they have mental capacity. Anyone over the age of 18 can have an LPA, although most people tend not to think about it until they are older. However, it is often wise to set up an LPA whatever your age. It is also a good idea for people in potentially dangerous jobs that might cause them to lose mental capacity (such as firefighters and construction workers), to have an LPA ready, just in case they have an accident at work that leaves them incapacitated (for example, in a coma) and need people to make decisions for them.

Here at Foster & Coleman, we can help you with the process of both completing and registering your application.

Posted in Family Law on Feb 17, 2022