Understanding Lasting Powers of Attorney LPAs

There are many misunderstandings and misconceptions about Lasting Powers of Attorney (LPA), therefore we hope this provides a useful overview of what an LPA does, how it works and how to request one.

5 reasons to have an LPA

1. One in three people aged over 65 will develop dementia, so it is important to ensure that finances and health will be looked after if you can’t deal with those matters yourself.

2. If you lose mental capacity and do not have an LPA no one can access your bank accounts to pay for your care or your bills without involving the court.

3. You get to choose who can make decisions for you when you are unable to do so. Your next of kin can’t automatically make decisions for you and if you don’t have an LPA, the court may need to appoint someone to act for you.

4. If no one can operate your bank accounts it might leave your family vulnerable, even when trying to pay for something as simple as a household bill, as Kate Garraway has found following her husband Derek Draper having to be put in an induced coma after contracting Covid-19.

5. You can clearly state your wishes such as the circumstances in which you would want your home to be sold or types of medical treatment you would not wish to receive.

What is a Lasting Power of Attorney (LPA)?

An LPA is a legal document by which you (the donor) give authority to others (your attorneys) to act for you and make decisions on your behalf when you are unable to make those decisions yourself. This might be because you have dementia or because you are in a coma following a bad accident for example.

There are two types of LPA: www.pearsonhards.co.uk

1. Property and financial affairs. This covers matters such as paying bills, buying and selling property and managing your investments.

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2. Health and welfare. This covers decisions around your care and medical treatment.

How do you put an LPA in place?

An LPA form needs to be filled in. The form is quite lengthy and, if not completed correctly, it can be rejected at registration by the Office of the Public Guardian.

You can request we put together an LPA for you at any time, simply contact Claire-Louise in the Wealth Management team on either clsmith@pearsonhards.co.uk or call us on 020 8949 9500.