Lasting Powers
of Attorney
Planning For The Unexpected
Most of us spend time thinking about what happens after we're gone.
Far fewer think about what happens if we're still here, but unable to make decisions for ourselves.
Illness. Accident. Stroke. Dementia.
Loss of mental capacity can affect anyone.
And when it does, having the right arrangements in place can make an enormous difference to both you and the people you love.
A Lasting Power of Attorney allows you to appoint people you trust to make decisions on your behalf should you become unable to do so yourself.
At Trafalgar Estate Planning, we help families put these important safeguards in place with clarity and confidence.
Because planning ahead isn't pessimistic.
It's responsible.
What Is A Lasting Power Of Attorney?
A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint trusted individuals to make decisions on your behalf if you become unable to do so yourself.
Many people assume that their spouse, partner or children would automatically be able to help.
Unfortunately, this isn't always the case.
Without an LPA in place, your loved ones may need to apply to the Court of Protection to gain the legal authority to act on your behalf.
The process can be expensive, stressful and time consuming at a point when families are already facing difficult circumstances.
There are two types of Lasting Power of Attorney.
Property & Financial Affairs Lasting Power of Attorney
This type of LPA allows your Attorneys to help manage your financial affairs.
This may include:
✓ Managing bank and savings accounts
✓ Paying bills and household expenses
✓ Collecting pensions and benefits
✓ Buying or selling property
✓ Managing investments
✓ Dealing with HMRC and other financial matters
This type of LPA can be used whilst you still have mental capacity if you choose to allow it, or only if you lose capacity in the future.
Health & Welfare Lasting Power of Attorney
A Health & Welfare LPA deals with decisions about your wellbeing and care.
This may include:
✓ Medical treatment
✓ Care arrangements
✓ Where you live
✓ Day-to-day welfare
✓ Life-sustaining treatment (if you choose)
Unlike a Property & Financial Affairs LPA, this type of LPA can only be used if you lose mental capacity.
Why Is An LPA So Important?
Loss of capacity isn't something that only affects people in later life.
It can happen suddenly and unexpectedly.
Common reasons include:
Dementia
Alzheimer's Disease
Parkinson's Disease
Stroke
Serious illness
Brain injury
Accident
Mental health conditions
An LPA allows you to choose who makes decisions for you. Without one, those decisions may ultimately rest with the Court of Protection.
What Happens If I Don't Have An LPA?
Without a Lasting Power of Attorney:
Your spouse may not automatically be able to access your bank accounts.
Your children may not be able to deal with your finances.
Important decisions regarding your care may be delayed.
Loved ones may need to apply to the Court of Protection.
The court decides who manages your affairs.
The process can take months and involve significant expense.
The people you would have chosen may not be the people appointed.
That's why many people regard an LPA as every bit as important as making a Will.
Who Should I Appoint As My Attorneys?
Your Attorneys should be people you trust completely.
This may include:
Your spouse or partner
Adult children
Other family members
Close friends
Professional advisers
You can appoint more than one Attorney and decide how they work together.
The most important thing is choosing people who understand your wishes and who will always act in your best interests.
Ready to Discover the
Trafalgar Difference?
Book your free Legacy Review and discover how joined-up estate planning can help protect your family, preserve your wealth and create lasting peace of mind.
No Obligation Just Expert Guidance