The Importance of Setting Up Lasting Powers of Attorney Early in Life

In today’s busy world, it’s easy to focus on the here and now and put off thinking about the future. But one of the most important steps you can take to protect yourself and your loved ones is setting up a Lasting Power of Attorney (LPA).

An LPA lets you choose someone you trust to make decisions about your health or finances if you’re ever unable to. It’s a simple way to make sure your wishes are respected and to give everyone peace of mind, no matter what life brings.

Understanding Lasting Powers of Attorney

A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint another person, known as your attorney, to make decisions for you. There are two main types:

• Health and Welfare LPA: Covers decisions about your medical treatment, daily care, and living arrangements if you’re unable to make these choices yourself. For example, if an accident left you unable to communicate, your attorney could step in to ensure your care matches your wishes.

• Property and Financial Affairs LPA: Allows your attorney to manage your money, pay bills, deal with your mortgage, and look after investments. This ensures your finances continue to run smoothly, even during difficult times.

  
  

Why It’s Smart to Set Up an LPA Early

1. Life is Unpredictable

None of us can predict the future. Research shows around 1 in 5 people experience some form of mental incapacity in their lifetime. By setting up an LPA now, you’re making sure someone you trust can make decisions for you if something unexpected happens, possibly helping to prevent family disagreements later on.

2. You Get to Choose Who Acts for You

Establishing your LPA early gives you time to choose the right person - someone who understands your values and priorities. It could be a family member, close friend, or anyone you trust to act in your best interests.

3. It Reduces Stress for Loved Ones

Supporting someone who has lost decision-making capacity is emotionally and practically demanding. Having an LPA in place takes the legal pressure off your loved ones, allowing them to focus on what really matters; your care and wellbeing.

How to Set Up a Lasting Power of Attorney

1. Choose Your Attorneys

Pick people who are trustworthy, responsible, and capable of handling important decisions. You can appoint more than one and decide whether they should act jointly or separately.

2. Complete the LPA Form

The forms include details about your attorneys and the powers you wish to give them. Whilst you can complete the forms yourself online, it is often more appropriate to get help from a solicitor. A solicitor will ensure that your wishes are properly reflected. If you make a mistake, there's a possibility that your LPA will be ineffective.

3. Register Your LPA

Once completed, register your LPA with the Office of the Public Guardian (OPG). Registration can take several weeks, so it’s best to start early. Your LPA only becomes valid once it’s registered.

4. Review and Update as Needed

Life changes and so should your LPA. Review it regularly to make sure it still reflects your wishes, especially after major life events like marriage, divorce, or a change in finances.

Common Myths About LPAs

1. "I Don't Need One Until I'm Older"

It’s a common misconception, but LPAs aren’t just for older adults. Illness or accidents can happen at any age. Having one in place early ensures you’re covered whatever the future brings.

2. "My Family Will Just Make Decisions for Me"

Without an LPA, even close family members might not have the legal authority to make key decisions. An LPA removes uncertainty and helps avoid disputes.

3. "It's Too Complicated"

It might sound formal, but setting up an LPA is actually quite straightforward, especially with the help of your solicitor. Once it’s done, you’ll have lasting peace of mind.

Final Thoughts

Creating a Lasting Power of Attorney is one of those things many people plan to “get around to” someday, but doing it now is one of the kindest things you can do for yourself and your family. It ensures your wishes are respected, protects your finances, and takes pressure off loved ones if life takes an unexpected turn.

It’s a simple step that offers long-term peace of mind and there’s no better time than now to put it in place.

Ready to start thinking about your future? Contact our Private Client team today to find out more:

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