Life often throws unexpected challenges our way, but there is a practical step you can take to bring some certainty to the unknown. Creating Lasting Powers of Attorney (LPAs) can ensure that trusted individuals are empowered to make crucial decisions on your behalf should you ever lose the capacity to do so yourself or become physically unable to manage or make your own decisions.
In this blog, Dawn Lamb, Head of Wills & Probate at Barker Booth & Eastwood, emphasises the significance of establishing LPAs to safeguard your future wellbeing.
Understanding Lasting Power of Attorneys
A Lasting Power of Attorney, or LPA, is a vital legal document designed to delegate decision making authority to a selected individual (or individuals).
By creating an LPA you grant someone the authority to handle important matters on your behalf if you become incapacitated due to illness or other reasons.
Taking this proactive measure enables you to articulate your preferences, maintain your dignity and ensure that critical matters can be address promptly and smoothly.
There are two types of LPA: One covering health and welfare decisions, and the other addressing property and financial affairs. For instance, a health and welfare LPA empowers the appointed individual to make significant choices regarding medical care, treatment plans and care arrangements. Whereas a property and finances LPA allows someone to manage your bank accounts, make payments, deal with utilities and property sales and purchases.
Both types can be crucial if someone loses their mental capacity or becomes physically unwell. Many people opt to make both or choose to focus on the one that holds greater relevance to their circumstances.
Who Should Consider an LPA?
While the necessity of an LPA becomes evident in cases of dementia or other cognitive impairments, the reality is that anyone can face a situation where they lose decision-making capacity. A serious accident, a stroke/heart attack, a head injury or a mental health crises can happen at any age.
LPAs are particularly beneficial for those with a family history of dementia or who are approaching their elderly years and want to plan and put their affairs in order.
Don’t Delay Making an LPA
A critical aspect of LPAs is the importance of creating them while one still possesses mental capacity. Once capacity is lost, it is too late as a Certificate Provider must assess mental capacity beforehand.
Concerns over memory loss or deterioration in later life often trigger the implementation of LPAs and that is fine, so long as the individual making the LPA is still at a point where they are capable of making their own decisions.
Ready to Make a Lasting Power of Attorney?
We cannot anticipate every challenge that life can present with our health and mental capacity, but we can take proactive steps to safeguard our welfare and that of our loved ones.
If you are considering putting protection in place for you or a family member, our team can guide you through the process, discuss the available options and ensure peace of mind for the road ahead.
Contact Dawn and her team on 01253 362 500 or email info@bbelaw.co.uk
