Lasting Power of Attorney - What happens if you lose capacity?

A Lasting Power of Attorney (LPA) is a legal document giving someone you trust the authority to make decisions on your behalf if you lack mental capacity at some time in the future, or no longer wish to make decisions for yourself.

In fact, if you want to ensure you stay in control of decisions relating to your care and your finances – you need a LPA now, because, if you lose mental capacity and do not have a LPA, it will be the legal courts that decide how you will be cared for – not your loved ones. Although your family can apply for the right to make such decisions, doing so is a long, expensive, complicated and painful experience from which you can save them by simply making your LPA now.

‘Lacking mental capacity’ is a legal term, and at some point in all our lives, our Dr or social care provider may need to make an assessment to judge whether we still have mental capacity. This point arrives, usually, because of an accident or a diagnosis of an illness or mental or learning disability. 

With the predicted ongoing increase in the incidence of dementia, LPAs are becoming an increasingly important way to ensure people’s wishes regarding their health and finances are respected.     

A basic standard LPA includes:

1. Details of who you want to be your attorneys (the people you want to make decisions about your healthcare, properties and finances)

2. Specific guidance about what exactly you want to happen regarding your care, your properties and your finances to help your attorneys make decisions on your behalf

There are three types of LPA: 

1. Property and Financial LPA

2. Health and Welfare LPA

3. Business LPA. 

You can find out more about each with a free no obligation appointment, contact me for details.

In short – everyone!

As Jack Straw, Former Lord Chancellor and Secretary of State for Justice said when he launched LPAs back in 2007:

“We all know how important it is to plan for the future. Having a Lasting Power of Attorney (LPA)...in place should be as common and natural as making a Will. It ensures that a person of your choosing will be able to manage your affairs should you lose capacity, be it as a result of dementia, mental illness or an accident.”

You can write one yourself (although strongly not advised). Be aware though that, for any LPA to be legally binding, you must register it with the Office of the Public Guardian. 

If you do not, it is the Court of Protection that will decide your fate should you lose capacity, which could leave your family (and your business) with unimaginable financial and emotional problems.

The Best Solution is to contact me and use our legal company, who offers a range of Estate Planning services and Legal Documents, including Trusts, Funeral Plans as well as Lasting Power of Attorney's. 

Contact me today to book a free consultation to find out more about your specific situation.