Lasting Power Of Attorney ' Why It's Important To Act Early

• Law Firm: Gorvins Solicitors
• Subject Matter: Family and Matrimonial, Family Law, Wills/ Intestacy/ Estate Planning
• Author: Mr Michael Smoult
• Published date: 07 March 2023

Appointing someone to act on our behalf if we become unable to make or communicate decisions ourselves is vital, not only for our finances but also for your health and care.

A recent high-profile example

Bruce Willis is a household name in the action movie genre, immortalised across our screens in films such as Die Hard, Pulp Fiction and Armageddon. His family have recently announced that he is suffering from frontotemporal dementia, a degenerative neurological disease

These diagnoses are life-changing and create a huge upheaval not only for the person but for their families Just like Mr Willis, nearly 1 million people suffer from some form of dementia in the UK. Many of those people rely on their loved ones to manage their affairs and make decisions on their behalf.

This is particularly important when the person's condition worsens to the point that they're unable to make decisions for themselves. That's why having a lasting power of attorney in place is important while you still have the mental capacity to legally consent to these arrangements.

What is a lasting power of attorney (LPA)?

Having a lasting power of attorney (LPA) in place means that you have taken the necessary steps to ensure your financial affairs and health and well-being are looked after should something unforeseen happen. Created under the Mental Capacity Act 2005, LPAs allow you to appoint someone to make decisions on your behalf while you're still of sound mind to do so.

Typically, LPAs are split into two categories:

• A Health and Welfare LPA
  These are designed to cover such issues as your care (say, in a nursing home) and medical treatment.
• A property and affairs LPA
  This kind of LPA is where your appointed person is permitted to make decisions about your property and finances for example managing your bank accounts, paying invoices and even as basic as speaking to the gas company

What can happen if you don't put an LPA in place before you lose mental capacity?

If you lose capacity before you've appointed a power of attorney, you'll no longer...