Why You Should Make a Lasting Power of Attorney (LPA)

At Pinkney Grunwells Lawyers LLP, we often hear questions about the importance of making a Lasting Power of Attorney (LPA). Many people are unaware of the significant benefits and peace of mind an LPA can offer. In this blog, we will explore the reasons why creating an LPA is a prudent and essential step for your future planning.

What is a Lasting Power of Attorney?

A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint one or more individuals (attorneys) to make decisions on your behalf if you lose the capacity to do so. There are two types of LPA:

1. Health and Welfare LPA: Covers decisions about your personal health and welfare, such as medical treatment and living arrangements.
2. Property and Financial Affairs LPA: Covers decisions about your financial matters, including managing bank accounts, paying bills, and selling property.

Why Should You Make an LPA?

1. Peace of Mind - Creating an LPA ensures that your wishes will be respected if you become unable to make decisions for yourself. Knowing that trusted individuals will manage your affairs provides peace of mind for you and your loved ones.
   
   
2. Avoiding Court Intervention - Without an LPA, if you lose mental capacity, your family may need to apply to the Court of Protection to appoint a deputy to manage your affairs. This process can be time-consuming, costly, and stressful. An LPA avoids the need for court intervention, ensuring a smoother transition.
   
   
3. Financial Security - A Property and Financial Affairs LPA allows your chosen attorneys to manage your finances effectively. This includes paying bills, collecting benefits, and managing investments. This ensures your financial affairs are in order, protecting your assets and reducing financial stress for your family.
   
   
4. Health and Welfare Decisions - A Health and Welfare LPA enables your attorneys to make crucial decisions about your care and medical treatment according to your preferences. This is especially important in situations where you cannot communicate your wishes.
   
   
5. Personal Choice - An LPA allows you to choose who will act on your behalf, ensuring that your affairs are managed by people you trust. This is far better than having a court-appointed deputy who may not know you personally.
   
   
6. Preventing Family Disputes - Having an LPA in place can prevent disagreements among family members about who should manage your affairs. Clear instructions and designated attorneys reduce the likelihood of conflicts, ensuring your wishes are followed.
   
   
7. Flexibility and Control - You can tailor your LPA to meet your specific needs and preferences. You can include instructions on how your attorneys should make decisions and even set limits on their powers. This flexibility allows you to maintain a degree of control over your future affairs.

How to Create an LPA

Creating an LPA is straightforward, but it requires careful consideration and proper legal advice. At Pinkney Grunwells Lawyers LLP, we guide you through each step of the process:

1. Consultation: Discuss your wishes and needs with our experienced lawyer.
2. Drafting: We draft the LPA documents, ensuring they accurately reflect your instructions.
3. Registration: We assist with registering the LPA with the Office of the Public Guardian, making it legally effective.

Conclusion

A Lasting Power of Attorney is more than just a legal document; it's a vital part of planning for your future. It ensures your wishes are respected, your affairs are managed by trusted individuals, and your loved ones are spared unnecessary stress and expense. At Pinkney Grunwells Lawyers LLP, we're here to help you take this important step with confidence and clarity.

For more information or to start the process of creating your LPA, contact us.

Your future, your choice, your peace of mind.