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Preparing a Lasting Power of Attorney (LPA) enables you to give someone you trust the legal authority to make decisions on your behalf when you need support and/or you are no longer able to make those decisions for yourself.

The people you choose to make decisions on your behalf are called attorneys and should not be confused with the term used by sophisticated, suave lawyers from American TV dramas like LA Law, Boston Legal or Suits!

There are two types of Lasting Power of Attorney. There is a Health and Welfare LPA and a Property and Financial Affairs LPA. They each have different uses, and you can appoint different people to represent your best interests.  A Health and Welfare LPA lets your attorney make decisions about where you live and medical issues like life sustaining treatment. The Property and Financial LPA allows a person to deal with decisions about your money and property.  This can include buying and selling property, dealing with the Pension service, welfare benefits and your bank accounts.

You should consider drawing up an LPA as just another piece of insurance. You hope that you won’t need it but know that it will protect you if you do.

The key point is that if you are unable to make decisions yourself – your attorney can step in to assist and you should be reassured that the person assisting you is someone you trust.

If you lose mental capacity without appointing an attorney this can cause problems for your family, and inconvenience you personally. A relative or a friend (or the local authority) would have to apply to the Court of Protection to become your deputy so that they can make decisions for you. This can be especially important if you hold joint assets as these assets may not be able to be sold without the consent of the Court of Protection. This may lead to considerable financial hardship for you and your family until any deputyship has been processed and granted by the Court of Protection.

In short, if you lose mental capacity and do not have a lasting power of attorney in place:

• You do not have a say in who the court decides to appoint as your deputy
• You will not have a say in the scope of powers that are granted to your deputy
• The deputy’s application could be refused, and the council appointed instead
• Your family will have to pay extra to apply for and maintain the deputyship
• You may not be able to sell jointly held assets until the court appoints a deputy

Having an LPA in place should ensure that your loved ones are in a position to deal with your financial affairs or make important medical decisions without delay.

If you think you might need or want to set up an LPA, feel free to contact Curwens Private Client team on 020 8363 4444 for an initial meeting.