A Lasting Power of Attorney (LPA) is a legal document that enables an individual (the ‘donor’) to appoint one or more people (‘attorneys’) to manage their affairs should they lack the ability or mental capacity to do so themselves.
Many people mistakenly believe that LPAs are just for older people who are suffering from dementia or another disease that affects their cognitive abilities.
However, while perhaps most utilised by this demographic, people can suffer from an accident or illness at any point in their life that could leave them temporarily or permanently debilitated.
If you fail to have an LPA in place when you lose capacity, your loved ones do not automatically have control over your affairs and may be unable to access your bank account, even if it is to pay for your care.
Although you may not need to use an LPA until you are older, and may not ever need one at all, everyone over 18 should make an LPA to ensure they have the necessary safeguards in place if they require them.
Read more about Lasting Powers of Attorney by reading our frequently asked questions about LPAs in our previous blog here.
There are many benefits to making an LPA. Here, our experienced Private Client solicitors give their top four reasons everyone should have an LPA.
- Retain control. Making an LPA means that you get to decide who you appoint to make certain decisions on your behalf. You can choose someone you trust and talk to them in advance about your preferences. You also don’t need to limit yourself to a single individual. If you decide to appoint multiple attorneys, you can state whether they must make decisions together or if you are happy for them to act alone in some instances.
- Provide for different eventualities. A health and welfare LPA comes into effect if you lack mental capacity. With a property and financial affairs LPA, the donor can choose whether it comes into effect when they lose capacity or immediately upon registration with the OPG. People with physical conditions that affect their mobility may opt for the latter. This enables the person they have nominated as their attorney to help with their finances (for example, visiting the bank), even though they still have mental capacity.
- Peace of mind. Making an LPA in good time while you are in good health and have the mental capacity to do so provides invaluable peace of mind. Knowing that you have taken the relevant steps to protect yourself and your family saves unnecessary stress if something unforeseen happens.
- Protect your loved ones. If you lose capacity without an LPA, your partner or other close family members do not automatically have the authority to access your finances or make decisions on your behalf. Your loved ones may have to apply to the Court of Protection to appoint someone to manage your affairs, which is often stressful, expensive and time-consuming.
LPA Lawyers Marylebone
Our solicitors at Muscatt Black Graf have extensive experience assisting individuals and their families in managing their affairs by providing practical and pragmatic advice on all matters concerning Lasting Powers of Attorney (LPAs).
Muscatt Black Graf’s LPA service includes:
- Advice on capacity issues.
- Advice on the appointment of attorneys and their duties.
- Advice on Enduring Powers of Attorney (EPAs).
- Preparing the LPA forms.
- Registering LPAs with the Office of the Public Guardian (OPG).
- Financial administration.
- Cancelling an LPA or EPA.
- Retiring from the position of attorney.
For more information about Muscatt Black Graf’s LPA services, click here.
To speak to one of our specialist LPA lawyers based in Marylebone, London, please email Muscatt Black Graf on contact@muscattblackgraf.com or click here to fill in our online contact form.
This blog was prepared on 22 January 2025. It is not intended to be advice and should not be relied upon as such.