Ellie Uttley is a Solicitor and Director at the firm, specialising in Property Law and Estate Planning matters. Having joined the firm in 2015, Ellie has developed extensive experience in advising clients on Lasting Powers of Attorney, Wills, and wider estate planning arrangements.
Many people spend time making a Will to ensure their affairs are dealt with after they pass away. However, far fewer people consider another very important question, what do my loved ones do if they were unable to make decisions during my lifetime due to illness, injury, or a loss of mental capacity?
A Lasting Power of Attorney (or LPA as they are commonly abbreviated to) is one of the most important legal documents you can put in place to protect yourself and your loved ones. It provides peace of mind that, should the unexpected happen, someone you trust will be able to make decisions on your behalf.
What is an LPA?
Deputyship Order before they can manage affairs. This process can be lengthy, costly, and far more restrictive than having an LPA in place.
The golden piece of advice I say to people is that an LPA is like an insurance policy to you. Hopefully, it will never be required to be called upon, but if, heaven forbid, it comes the time where it is required, it is worth its weight in gold.
One of the most common misconceptions surrounding LPAs is that they can be prepared at any stage. Unfortunately, this is not the case. In order to create a valid LPA, the individual must have the mental capacity to understand the nature and effect of the document they are signing.
If capacity has already been lost due to conditions such as dementia, a stroke, a brain injury, or another illness affecting decision-making abilities, it is generally too late to put an LPA in place. At that point, loved ones may need to make an application to the Court of Protection, which as previously said, can be a lengthy, costly, and often stressful process.
Many people associate LPAs with later life, but the reality is that accidents, serious illnesses, and unexpected life events can affect anyone at any age. Planning ahead is therefore key.
By putting an LPA in place, you gain the reassurance that, should the unexpected happen, the people you trust will be able to manage your affairs efficiently and in accordance with your wishes. Whether it is dealing with financial matters, managing property, or making decisions about your health and welfare, an LPA can provide invaluable protection for both you and your family.Most importantly, having an LPA in place can alleviate unnecessary stress and uncertainty for your loved ones during what may already be a difficult time. Rather than facing legal hurdles and delays, they can An LPA is a legal document that allows you to appoint one or more trusted individuals (known as “Attorneys”) to make decisions for you if you become unable to do so yourself.
There are two types of LPA:
Property and Financial Affairs LPA
This allows your Attorneys to assist with matters such as managing bank accounts, paying household bills, dealing with pensions, or even buying/selling property for you if required.
Health and Welfare LPA
This allows your Attorneys to make decisions regarding your care arrangements, medical treatments, daily living arrangements, and even withdrawing life sustaining treatment from you (if specifically authorised).
Many people mistakenly believe that their spouse, partner, or adult children will automatically have the authority to deal with their affairs if they become incapacitated. Unfortunately, this is not the case.
Without a valid LPA in place:
- Family members may be unable to access your bank accounts.
- Important financial commitments may go unpaid.
- Decisions regarding your care and treatment may be made without the involvement of those closest to you.
- Your loved ones may face significant delays and expense in obtaining authority to act on your behalf.
If you was to lose capacity and did not have the benefit of an LPA, family members must apply to the Court of Protection for a focus on supporting you, safe in the knowledge that they have the authority to act on your behalf.
If you would like advice on creating a Lasting Power of Attorney or would like to discuss your circumstances with a member of our team, please contact us on the details below to discuss further.
Ellie Uttley is a Solicitor at the firm. For more information, please contact her on 01706 818111 or email her at ellie.uttley@lancslaw.co.uk
