An LPA is a lasting power of attorney under which you can authorise individuals, known as attorneys, to make decisions on your behalf. There are two kinds of LPAs, one dealing with finance and property and the other, health and welfare.
You must be aged at least 18 and able to make decisions for yourself, that is, have mental capacity to make an LPA.
When is a good time to make an LPA?
Lasting Powers of Attorney are an increasingly popular legal instrument in the UK, with around 14% of adults having one registered with the Office of the Public Guardian. If you are interested in creating a Power of Attorney online search for specialists such as https://powerofattorneyonline.co.uk/.
Insofar as making one is concerned, there is never a bad time, but do not leave it too late, as you must have the mental capacity to do so.
Why should I consider an LPA whilst I am young?
It may not seem urgent, but if you have property, savings or a family, it is important to consider an LPA. An accident could be around the corner which affects your abilities and you may need someone to make day-to-day decisions on your behalf. Rather like insurance, you will not miss it until you need it.
The process takes time and you must have the mental competence to get the process underway. There may also be objections from family members and you may also encounter problems finding individuals prepared to take on the responsibilities of an attorney.
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