The misconception that Lasting Powers of Attorney (LPA) are only for the elderly needs to be dispelled. While it’s true that many people lose capacity later in life, it can happen to anyone at any age, regardless of gender, background, or wealth.
This is crucial because, contrary to popular belief, a spouse, partner, or next of kin does not have the authority to access your finances. Therefore, if you lose capacity, your banks may not grant your family access to your independently owned assets unless you have entered into an LPA and appointed someone under a Property and Financial LPA.
The same applies to your health. If you lose capacity and are unable to make decisions, your family members do not have an automatic right to make decisions on your behalf. While they can certainly communicate with healthcare professionals, the final decision rests with the medical team. Without a Health and Welfare LPA, your family cannot enforce your specific wishes regarding your health. In the event of a general decline in capacity, an accident, sudden illness, or even a mental health crisis, an LPA ensures that a plan is in place to protect your future.
What is an LPA?
An LPA is a legal document that designates a trusted individual to make decisions on your behalf regarding your finances (including any property you own), as well as your health and welfare. You can specify how and when they are authorized to make these decisions.
The Property and Financial LPA can be used even if you have not lost capacity, if you choose for it to be used in that way. You may feel that you need additional assistance day-to-day or when you are out of the country. The people you have elected and trusted in your LPA can help you with these matters while you still have capacity.
What if I lose capacity and I don’t have an LPA?
- You will no longer have the capacity to make an LPA. Therefore, you will no longer be able to decide who makes the decisions for you.
- If friends and family have to make decisions for you, they may have to go to court and apply for a Deputyship Order on your behalf. This process is not only more expensive but also takes a considerable amount of time to complete, adding stress for your loved ones.
Can I make an LPA without a legal advice?
If you are over the age of 18 and have mental capacity, you can make an LPA provided you pay the court fee and ensure the document is signed correctly.
Obtaining legal advice can help you understand the decisions that your appointed individuals can make and the principles they must follow. Legal advice can also guide you in drafting instructions and preferences to safeguard your assets and ensure your wishes are clear. It’s common for the Office of the Public Guardian (OPG) to reject LPAs due to poorly drafted instructions, rendering the LPA unusable.
