This is why you need an LPA – yes, even in your 20s!

A Lasting Power of Attorney (LPA) is a legal document that allows you to choose a trusted individual to manage your affairs, should you become incapacitated through accident or illness.

Anyone over the age of 18 can put an LPA in place, but you can only do so while you have the mental capacity, which is why putting one in place when you can, will give you and your family peace of mind.

Here are the top 3 reasons why you should have an LPA in place:

Quick decisions 

A sudden accident or illness could be stressful for you and your family. An LPA could help reduce cost and worry, allowing for a much easier and quicker transition.

Without an LPA in place, the Court of Protection will need to appoint a deputy. This is time-consuming and could leave them facing financial hardship while the application is processed.

It can take the Court of Protection a long time to issue a deputyship order. It can also be very costly. Without factoring in legal costs, the registration fee alone for a deputyship order is £365.00, compared to the £82.00 it costs to register an LPA.

You are in control

You can only appoint an attorney while you have the mental capacity, which means you have control over whom you choose and can do so without risk of coercion.

You can also restrict the sort of decisions your attorney can make – by excluding decisions on the sale of a property for example, or providing your instructions for end-of-life care – giving you added protection.

It is important to remember that a Health and Welfare LPA is only triggered when you are incapacitated. From that point on, you are unable to make changes to it, unless you can prove mental capacity in the future.

You also don’t have to limit yourself to just one attorney, you can nominate multiple people, which protects you if something happens to your original choice of attorney in the future.

You can also specify whether your attorneys can act individually or whether they must all agree on a decision.

You can’t predict the future

An accident can happen at any time, however prepared you think you may be, and it could leave you unable to manage your own affairs.

Taking steps to be prepared for the future gives you and your family one less thing to worry about.

It will be reassuring for everyone to know that no matter what happens, you have something in place to ensure your well-being is taken care of.

Get In Touch

If you are looking to put an LPA in place, our Wills & Probate team is here to assist and advise. Click here to contact us and arrange an appointment.