In an increasingly unpredictable world, planning ahead is more than just prudent; it is empowering. While many people recognise the importance of making a Will, fewer understand the vital role a Lasting Power of Attorney (LPA) plays in safeguarding their future and protecting their loved ones.
An LPA is a legal document that allows you to appoint someone you trust to make decisions on your behalf if you lose the capacity to do so. There are two types: one for Property and Financial Affairs, and another for Health and Welfare. You can choose to set up either one or both, depending on your circumstances.
Why Every Adult Should Consider an LPA
- Avoiding court delays and costs
Without an LPA, your loved ones may need to apply to the Court of Protection to act on your behalf—a process that is often expensive, time-consuming, and emotionally draining.
- Peace of mind and control
An LPA ensures that decisions about your finances, care, and wellbeing are made by someone you trust, in line with your wishes. It’s a proactive step that gives you control over your future, even if circumstances change unexpectedly.
- Protection against abuse and exploitation
With professional legal advice, safeguarding clauses can be included to protect you from potential misuse of power. Solicitors play a vital role in ensuring LPAs are drafted correctly and ethically.
Not just for the elderly
LPAs are important for everyone, not just older adults. Illness, accidents, or sudden incapacity can affect anyone, regardless of age. If you own your own business as a sole shareholder and director, have you considered who would manage your affairs if you were unable to? Having an LPA in place ensures your affairs can be managed seamlessly if the unexpected occurs.
Recent Reforms: Making LPAs more accessible and secure
The Powers of Attorney Act 2023 has introduced significant reforms to modernise the LPA process. These include:
- A fully online application system to reduce registration times.
- Hybrid LPAs, combining digital and paper-based processes.
- Stricter identity verification to help prevent fraud.
- Expanded powers for the Office of the Public Guardian to investigate misuse.
Why legal advice matters
- The document is legally sound and tailored to your needs.
- Expert guidance on choosing attorneys and including specific instructions.
- Avoidance of common errors that could lead to rejection or misuse.
- Proper handling of amendments - an LPA is a deed and cannot be altered once validated by the Office of the Public Guardian. To make changes, the power must be revoked and a new LPA created, which adds to the costs. Getting it right first time is therefore essential.
At SA Law LLP, we help clients prepare LPAs with clarity, compassion, and confidence. Whether you are planning for later life, managing a business, or simply seeking peace of mind, we’re here to guide you every step of the way.
Contact us today to discuss how a Lasting Power of Attorney can protect your future and those you care about most.
