Do I need a lasting power of attorney?

It is unpleasant to contemplate that you may ever lose the ability to manage your own affairs. However, by signing both a "lasting power of attorney - personal welfare" and a "lasting power of attorney - property and affairs" you can ensure that if this should ever happen, your financial affairs and personal welfare will be looked after by someone you trust.

There are occasions when the lack of an LPA can cause create problems which could easily have been avoided. For example, you may have had a stroke and been advised that you cannot return home to live on your own any more. A nursing home may have been suggested as the best solution. Unfortunately, your family will have great difficulty in selling your house if you are unable to give the necessary instructions for sale and eventually sign the contract. If a lasting power of attorney - property and affairs exists, then the attorney can sign on your behalf, thus ensuring that your problems are dealt with promptly.

If you become mentally incapable and have not appointed an attorney, your finances may be frozen until the Court of Protection appoints a deputy. A deputy is someone appointed by the Court of Protection with ongoing legal authority as prescribed by the Court to make decisions on behalf of a person who lacks capacity. (Under the old system of EPAs, this position used to be known as a 'receiver'.)

The appointment of a deputy may take some time and meanwhile, your bills might not be paid, and your affairs may not be looked after. In addition, there are official fees to be paid which exceed the fees that would be paid to register a LPA.

For more information see our ‘What is a deputy?’ section.

You can find out more about the property and affairs LPA and the personal welfare LPA by reading our article on lasting powers of attorney. Although you may not have heard of the lasting power of attorney, you may have heard of the enduring power of attorney. From 1 October 2007, the enduring power of attorney was replaced by the lasting power of attorney. You can no longer create an enduring power of attorney and must create a lasting power of attorney instead.