You may have heard of a lasting power of attorney (LPA) but assumed it doesn’t apply to you. Younger generations or those in good health may think it is only something for the elderly or for use in the event of serious illness. There is also a common misconception that your next of kin will automatically be able to manage your finances or make medical decisions for you if you are unable to do so.
However, this is not the legal position. For example, no one has the authority to deal with your bank account unless explicitly granted permission. Nor can someone decide whether you should receive medical treatment, that responsibility rests with medical professionals. While they may consult with family members, the legal decision ultimately lies with the medical team – and without an LPA in place, no one has the authority to override it.
What is a lasting power of attorney?
One way to think about an LPA is as an insurance or ‘disaster recovery’ plan: putting an action plan in place that sets out what should happen, and who should carry out your wishes, if you become unable to make decisions yourself. It is important to recognise that life can change at any moment.
LPAs may, at first glance, appear to be a simple form-filling exercise, but seeking legal advice is crucial. A qualified professional can assess the detailed provisions that could – and often should – be included in an LPA. These might cover wishes about lifestyle choices or religious beliefs, such as specified diets or refusing a blood transfusion, as well as financial matters, including the extent to which an attorney may be reimbursed, whether they can delegate decision-making (including to investment managers), and their authority to manage digital assets.
A professional can also help ensure the signing and registration processes are completed correctly, avoiding errors that could lead to rejection by the Office of the Public Guardian. Incorrect signing is a common reason LPAs are rejected, which is particularly significant given that registration can, even without errors, take up to 20 weeks.
Putting a well-drafted LPA in place at an early stage can provide valuable peace of mind for circumstances we hope will never arise but cannot entirely rule out. It helps ensure everyone involved is properly informed, supports clearer decision-making, and can significantly reduce stress and distress at what is often a difficult time.
How can we help?
Pippa Bavington is a Partner in the Wills, Life Planning & Probate team, based at our Sudbury Office.
Fisher Jones Greenwood LLP, a member of Lawfront since 2021, is a prominent law firm offering a comprehensive range of legal services to corporate, public and private clients.
Our Sudbury office is home to a team of specialists providing both business and personal legal services. Whether you need support with Family Law, Conveyancing, or Dispute Resolution, we’re here to help. If you’d like to talk about a lasting power of attorney, our Wills, Life Planning & Probate team are here to help. Call us on 0845 543 5700 email [email protected] or contact us via our online enquiry form.