Lasting Power of Attorney (LPA)

Who Should Have a Lasting Power of Attorney (LPA)?

At FamilyTrusts, we strongly recommend that every adult should consider creating a Lasting Power of Attorney (LPA). An LPA is a crucial legal document that grants trusted individuals the authority to make decisions on your behalf in case of incapacity. Here's why having an LPA is essential:

  1. Ensuring Personal Welfare: An LPA for Health and Welfare allows you to appoint someone to make important decisions about your medical treatment, care, and overall well-being when you are unable to do so yourself. This ensures that your personal wishes and preferences are respected, even if you cannot express them at the time.

  2. Managing Financial Affairs: An LPA for Property and Financial Affairs enables you to designate someone you trust to handle your financial matters, including managing your bank accounts, paying bills, or selling property, if you become incapacitated. This ensures that your financial affairs are managed smoothly, without disruption.

  3. Peace of Mind: By creating an LPA, you have control over who will make decisions on your behalf if you are unable to do so. This provides peace of mind knowing that your interests and preferences will be upheld, and the burden of decision-making will not fall on loved ones without clear guidance.

  4. Planning for the Unexpected: Incapacity can occur due to various circumstances such as accidents, illnesses, or mental health conditions. Having an LPA in place ensures that you are prepared for unexpected events, allowing for a seamless transition and the preservation of your best interests.

The Risks of Not Having a Lasting Power of Attorney

Failing to establish an LPA exposes you and your loved ones to potential risks:

  1. Loss of Decision-Making Control: Without an LPA, crucial decisions regarding your health and welfare or financial matters may be made by individuals appointed by the court rather than someone you personally trust. This could lead to decisions being made against your wishes or without a deep understanding of your preferences.

  2. Strain on Loved Ones: The absence of an LPA can put a significant burden on your loved ones, who may need to go through a complex legal process to gain the authority to make decisions on your behalf. This can cause delays, stress, and additional expenses during an already challenging time.

  3. Disputes and Uncertainty: Without clear guidance provided by an LPA, disagreements among family members or individuals claiming the right to make decisions can arise, resulting in potential conflicts and unnecessary legal battles.

The Risks of DIY Lasting Power of Attorney

Although it may be tempting to create a DIY Lasting Power of Attorney, it carries inherent risks:

  1. Complexity of Legal Requirements: LPAs involve intricate legal considerations and specific execution requirements. DIY attempts may overlook critical aspects, potentially rendering the document invalid or open to challenges.

  2. Lack of Tailored Advice: DIY approaches lack the expertise and personalized advice provided by legal professionals. An experienced advisor can guide you through the process, ensuring that your LPA aligns with your specific circumstances and meets all legal requirements.

  3. Incomplete or Inaccurate Information: DIY LPAs may miss important details or fail to address specific situations, potentially leading to confusion or disputes about your intended wishes and preferences.

At FamilyTrusts, we understand the importance of a properly executed and legally sound Lasting Power of Attorney. Our knowledgeable team is here to assist you, providing expert guidance and ensuring that your LPA accurately reflects your desires while minimizing potential risks.

Contact us today to schedule a consultation and take the essential step of securing your future and protecting your interests.