When it comes to making legal arrangements for your future, one of the most important documents you may need is a Power of Attorney (PoA). While it may sound like a complex legal term, a Power of Attorney is simply a document that gives someone else the legal authority to make decisions on your behalf, in the event that you are unable to do so yourself. But why is it so important? And do you really need one?
In this plain-English guide, we will explain what a Lasting Power of Attorney (LPA) is, why it’s vital, when you should consider setting one up, and how MAR Legal can help you navigate the process with ease.
What is a Power of Attorney?
A Power of Attorney (PoA) is a legal document that grants someone else the authority to act on your behalf in specific matters, such as managing your finances or making medical decisions for you. There are different types of Power of Attorney, but the most common in the UK is the Lasting Power of Attorney (LPA).
An LPA is a document that lets you appoint someone, known as your attorney, to make decisions for you if you become mentally incapable of making them yourself. These decisions could relate to your health, your property, or your finances.
There are two main types of Lasting Powers of Attorney:
- Health and Welfare LPA: This allows your attorney to make decisions about your healthcare, such as medical treatments, where you live, and your day-to-day care.
- Property and Financial Affairs LPA: This grants your attorney the authority to manage your financial affairs, including paying bills, managing investments, and handling your property.
Having one (or both) of these LPAs in place ensures that someone you trust is legally empowered to make decisions for you if you can’t.
Why Do You Need a Lasting Power of Attorney?
Without a Lasting Power of Attorney, you leave yourself vulnerable in situations where you may lose the ability to manage your affairs, whether due to an accident, illness, or old age. Without this document, family members or friends would have to apply to the Court of Protection to be appointed as your deputy— a lengthy, expensive, and emotionally taxing process.
Setting up an LPA helps avoid such complications and gives you the peace of mind knowing that:
- Your decisions are made by someone you trust. If you lose mental capacity, having an LPA in place ensures that a trusted individual can step in and make decisions on your behalf. This could be a family member, friend, or even a professional.
- You can control who makes decisions for you. Unlike the Court of Protection, which might appoint someone you do not know well, an LPA lets you choose the person you trust most.
- You reduce stress for loved ones. Without an LPA, your loved ones would have to go through legal proceedings, which can be stressful and time-consuming. By having an LPA in place, you can avoid this added burden.
- You ensure continuity in financial matters. Having a Property and Financial Affairs LPA means someone can continue managing your finances, paying bills, or handling any other property-related matters, even if you are unable to do so.
When Should You Set Up a Lasting Power of Attorney?
You don’t need to wait until you’re old or ill to create an LPA. The earlier you put one in place, the better. Here are some reasons to consider setting one up:
1. If You Are Starting to Worry About Your Health
If you have noticed changes in your health, such as memory loss, difficulty making decisions, or other signs of mental decline, it’s wise to consider setting up an LPA. It’s better to set one up while you still have full mental capacity to make decisions.
2. When Planning for the Future
Even if you’re in good health now, an accident or unexpected illness can change everything in the blink of an eye. Setting up an LPA early ensures that you’re prepared for any unexpected event that might affect your ability to manage your affairs.
3. For Those With Complex Financial Affairs
If you own property, have investments, or run a business, you might find it difficult to manage these financial matters if you become incapacitated. An LPA for property and financial affairs ensures someone you trust can step in and take care of these important matters.
4. If You Have No Close Family or Friends
If you don’t have family or close friends who are able to help, or if you prefer a professional to manage your affairs, you can appoint someone like a solicitor or trust corporation to act as your attorney.
How Do You Set Up a Lasting Power of Attorney?
Setting up an LPA is straightforward, but it’s important to ensure the process is done correctly to avoid any complications later. Here’s how you can set up your LPA:
- Choose Your Attorneys
The first step is to decide who you want to appoint as your attorneys. These individuals should be people you trust completely, as they will be making important decisions on your behalf. - Complete the LPA Forms
You need to complete the appropriate LPA form (either Health and Welfare, Property and Financial Affairs, or both) with detailed information about your preferences and instructions. You’ll need to sign the forms in front of a witness. - Register the LPA
Once the forms are signed, you need to register your LPA with the Office of the Public Guardian (OPG). Registration can take several weeks, so it’s important to plan ahead. Once registered, your LPA is legally valid. - Make Sure Your Attorneys Understand Their Responsibilities
It’s crucial that your attorneys understand their roles and responsibilities. They must act in your best interests and follow any instructions you’ve provided in the LPA. - Keep Your LPA Safe
After registration, your LPA will be kept by the OPG, but you should also keep a copy for your records. You can also give copies to your attorneys, so they know when they’re allowed to act on your behalf.
How MAR Legal Can Help
At MAR Legal, we understand how important it is to have peace of mind about your future, and we’re here to help make setting up a Lasting Power of Attorney as simple and stress-free as possible.
Our team of expert solicitors can guide you through every step of the process, from choosing the right attorneys to registering your LPA with the Office of the Public Guardian. We provide personalised legal advice tailored to your specific needs, ensuring your wishes are followed precisely.
We also offer affordable and transparent pricing with no hidden fees, so you can set up your LPA without worrying about unexpected costs. And if you have any questions, we are always here to provide clear, friendly, and approachable guidance.
By choosing MAR Legal, you’re ensuring that you have the right support at every stage, whether you’re setting up a single LPA or both types. Our goal is to make sure you’re protected, no matter what the future holds.
Conclusion
A Lasting Power of Attorney is an essential legal tool that ensures your affairs are handled according to your wishes if you become unable to make decisions for yourself. Setting one up can provide you with peace of mind and avoid unnecessary stress for your loved ones.
If you’re unsure whether you need an LPA, or if you need guidance on the process, MAR Legal is here to help. Contact us today for an initial consultation, and let us provide the legal support you need to protect your future.
Get in touch with MAR Legal:
Phone: +44 (0)161 491 3933
Email: info@marlegal.co.uk
Visit us at: Regus, 3, Hardman Street, Spinningfields, Manchester, M3 3HF
Your trusted partner for legal solutions you can rely on.